NIIT Technologies Q1 FY’20Revenue up 16.7% YoY
Chennai, July 24, 2019: Tuesday:NIIT Technologies Limited (NSE: NIITTECH), a leading global IT solutions organization, today announced its financial results for Q1 FY2019-20. The Company has reported consolidated revenue of ₹962.7crore and net profitof ₹87.6crore.
Q1 Highlights:
• Revenues grew 16.7% YoY.
• Profit after taxes up 2.0% YoY on reported basis, up 17.3% YoY after adjusting for non-recurring expenses.
• Order intake of US$ 175 mn, marking the 9th consecutive quarter of sequential increase in order intake.
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Qtr. performance at a glance |
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Particulars |
Qtr. ended |
Qtr. ended |
Growth |
Qtr. ended (Adjusted) |
Growth |
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30-Jun-18 |
30-Jun-19 |
YoY |
30-Jun-19 |
YoY |
|
|
Rs.Cr |
Rs.Cr |
|
Rs.Cr |
|
|
|
Consolidated Revenues |
824.9 |
962.7 |
16.7% |
962.7 |
16.7% |
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EBITDA |
130.6 |
138.8 |
6.3% |
162.3 |
24.3% |
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EBITDA Margin |
15.8% |
14.4% |
- 142 bps |
16.9% |
103 bps |
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Profit After Tax |
85.8 |
87.6 |
2.0% |
100.6 |
17.3% |
The quarter under review had one-time non-recurring expenses of Rs. 235 mn translating to a negative impact of 240 bps. Adjusted for that, the EBITDA margin for the quarter stood at 16.9%, an expansion of 103 basis points YoY, and PAT increased 17.3% YoY to Rs 100.6 crore.
In constant currency terms, BFS expanded 2.8% QoQ contributing to 16.5% of revenue, Travel and Transport (TT) was up 5.9% QoQ contributing to 28.3% of revenue and Insurance grew 6.6% QoQ contributing 29.1% of overall revenues. Others segments collectively grew 1.5% QoQ and they now represent 27.0% of overall revenues.
Digital revenues grew 46% YoY contributing to 34% of the total revenues.Americas, EMEA, APAC and India contributed 49%, 35%, 11% and 5% of the revenue mix.
The Company secured fresh business of US$175mn during the quarter. The order executable over the next twelve months has also increased to US$395mn.
“We registered a good performance in Q1FY20 and the fundamentals of the business are strong,”said Mr. Sudhir Singh, Chief Executive Officer, NIIT Technologies Ltd.
Acknowledgements:
• NIIT Technologies ranked #1 in ‘Business Understanding’ for the second consecutive year in ‘Whitelane’s 2019 UK IT Sourcing Study’.
• NIIT Technologies named as a Leader among midsize agile software development service providers, by Forrester Research Inc., an independent research and advisory firm, in their report, The Forrester Wave™: Midsize Agile Software Development Service Providers, Q2 2019.
• NIIT Technologies companies Incessant Technologies and RuleTek received Pega Partner Award 2019 for ‘Excellence in Growth and Delivery’.
