NIIT Technologies' revenue up by 4.5 per cent YoY

Global IT solution provider, NIIT Technologies on July 15 has announced its Q1FY17 results. The company has reported a surge of 4 per cent in the revenue. In Q1FY17, the company has reported a revenue of Rs 670 crores, and in same period last year the company reported a revenue of Rs 642 crores. Operating profits stand at Rs 101.5 crores, which declined marginally by 1.1 per cent on a YoY basis. The company has reported a net profit of Rs 28.6 crores in Q1FY17.Net profits as compared to Q1FY16 have declined by 47.5 per cent.

According to the press release by the company to the exchanges, the company has seen a marginal improvement in the international revenue, however the revenue on a sequential basis has declined due to seasonality in the GIS business.

Company’s international business has grown by 0.5 per cent in Q1FY17. Americas' share has increased by 48 per cent; but on the other hand EMEA share has declined by 32 percent, which was largely due to reduced business in the UK.

BFSI business has grown by 3.2 per cent sequentially during the quarter; Travel and Transportation share has remained at 32 per cent; Manufacturing, Media and Others contributed to 24 per cent of the revenue.

NIIT Technologies Limited, is an India based Information Technology (IT) company. The Company focuses on customers in the banking, financial services and insurance, travel transportation and logistics, and retail and distribution sectors, offering services in application development and management, enterprise solutions and managed services.