BW Communities

NIIT Technologies Q1 Revenue Up By 11%

BW Online Bureau Jul 14, 2015

NIIT Technologies, an IT solutions organisation, reported a revenue increase of 11 per cent for the first quarter over the same period last year at Rs 641.1 crore. Operating Profits grew 34.5 per cent over same period last year to Rs 104.2 crore and profit after tax (PAT) expanded 35.5 per cent to Rs 58.5 crore. Arvind Thakur, CEO and Joint MD, NIIT Technologies Ltd, said, “The quarter witnessed robust 8.9 per cent sequential growth in international geographies which helped maintain operating margins at 16.3 per cent despite wage hikes." Among industry segments, BFSI grew 15.2 per cent sequentially due to growth in new insurance accounts and integration of Incessant. BFSI now contributes to 36 per cent of total revenues, travel and transportation to 37 per cent, manufacturing/distribution to 6 per cent and government to 5 per cent of the revenue mix. Order intake during the quarter was $97 million resulting in $300 million of order book executable over the next 12 months. “With the integration of Incessant, the company acquired 15 new significant clients”, said Sudhir Chaturvedi, COO, NIIT Technologies Ltd. “In all 17 new logos were added during the quarter”, he added. The company’s strategic investment in Incessant Technologies provides it with the ability to be a leader in the Digital Integration space. The opportunity being exploited is where Digital front ends have to be integrated with complex legacy systems which most large corporations have to provide for their customers to get a seamless experience. Processes that earlier required manual intervention can be done in a straight through manner through these services, and complex processes are orchestrated automatically through intelligent business process management services. “NIIT Technologies has leapfrogged into the emerging Digital Integration space”, said Rajendra Pawar, Chairman NIIT Technologies Ltd. “14 per cent of the company’s global revenue is now around Digital Services”.   734 people were added during the quarter taking the total headcount to 9,228 at the end of the period under review. Rate of attrition declined to 14.30 per cent.