"Sudhir would be based in the US and shall report to Arvind Thakur. Arvind will transition his current CEO related responsibilities systematically to Sudhir during the year," NIIT Technologies said in a BSE filing.
Growth was seen on the back of expansion in BSFI segment and US markets, said Arvind Thakur, CEO & Joint MD at NIIT Technologies.
The country's midcap IT companies chiefs are of the view that share buybacks by companies must be backed well with a proper cash expenditure plans.
Thakur says the company has witnessed an expansion in margins every quarter and is confident of reaching an exit margin of 17.5 percent by the end of current fiscal.
Its revenues grew two percent to Rs 693.8 crore in the reported quarter from Rs 680.2 crore in the October-December, 2015 quarter, as per Indian Accounting Standards (Ind AS).
The first quarter of FY17 was impacted due to seasonality and softness in insurance business in the UK post Brexit, although there have been no deal cancellations, says Arvind Thakur, CEO of NIIT Technologies.
Total income from operations fell 2 percent sequentially to Rs 670.7 crore in the quarter ended June 2016 on account of seasonality in domestic GIS business, Arvind Thakur, CEO and joint MD said.
The company's margins to remain steady due to significant growth in its international and digital business, says Arvind Thakur, CEO & Joint MD, NIIT Technologies.
The remarks from the industry leaders came after Finance Minister Arun Jaitley launched the 'Make in India' conference here on the second day of his four-day visit to Australia.
The company's net profit stood at Rs 48.2 crore in the same period last fiscal. "The growth came on multiple accounts. We saw expansion of operating margins by 60 basis points. Also, there was an improvement in tax rates and benefit from higher other income," Arvind Thakur, CEO and Joint MD, NIIT Technologies told PTI.
â€œGrowth in all international geographies and industry segments of focus resulted in 8 percent sequential growth in international business," Arvind Thakur, CEO and Joint MD, NIIT Technologies said, adding improved international revenue mix contributed to expansion in margins.
â€œThe quarter witnessed robust 8.9 percent sequential growth in international geographies which helped maintain operating margins at 16.3 percent despite wage hikesâ€ said Arvind Thakur, CEO and Joint MD, NIIT Technologies.
However, its consolidated revenues for the quarter grew 2.7 percent sequentially to Rs 611.2 crore from Rs 595.3 crore.
In an interview to CNBC-TV18, Thakur says he expect the coming financial year to better than the current one as the US market is recovering
Consolidated revenues declined 1.7 percent to Rs 587.3 crore in the quarter ended December 2013 from Rs 597.3 crore in previous quarter.
In an interview to CNBC-TV18, Arvind Thakur, CEO & joint MD, NIIT Technologies says the company's revenue is up 30 percent CAGR in the last three years.
The company's revenue rose 8.4 percent (up 17.4 percent Y-o-Y) to Rs 587.3 crore during September quarter from Rs 541.9 crore in June quarter, led by strong growth in US.
Arvind Thakur, CEO, NIIT Technologies says, in an interview to CNBC-TV18, that though margins saw a dip in the first quarter due to an increase in wages, he expects margins to improve as the volumes increase over the following quarters.
In an interview to CNBC-TV18 Arvind Thakur, CEO, NIIT Technology talked about the fresh orders they have bagged from one of their older client Morris Communications. He informed that they are in the process of executing that engagement and they may see USD 20 million improvements in revenues from Morris.
IT solutions provider NIIT Technologies' fourth quarter net profit declined 8% from a year ago to Rs 46.2 crore as the rupee appreciation against major currencies hurt.
IT company NIIT Technologies today acquired Spainish software services firm Proyecta Sistemas de Informacion SA for for USD 7 million.
In an interview with CNBC-TV18’s Sonia Shenoy, Arvind Thakur, CEO, NIIT Technology said, the company has had a good overall performance. He expects margins to improve, going forward, in the GIS business.
In an interview with CNBC-TV18, Arvind Thakur, CEO of NIIT TECHNOLOGY, said global environment continues to look turbulent following the spate of GDP downgrade and Greek debt concerns. "However, this will not have a major impact on the services business," he adds.
In an interview with CNBC-TV18, Arvind Thakur, CEO, NIIT Technologies spoke about the quarterly numbers of the company.