NIIT Technologies Q2 FY'20 Revenue up 19% YonY

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• India - English

NOIDA, India, Oct. 23, 2019 /PRNewswire/ -- NIIT Technologies Limited (NSE: NIITTECH), a leading global IT solutions organization, today announced its financial results for Q2 FY2019-20. The Company has reported consolidated revenue of ₹1038.5 crore and net profit of ₹119.5 crore for Q2 FY'20.

Q2 Highlights:

• Revenues grew 19% YonY and 8.2% QonQ
• Profit after taxes were up 12.2% YonY and 17.0% QonQ
• Order intake of US$ 176 mn, marking the 10th consecutive quarter of sequential increase in order intake
• The Board recommends an interim dividend of Rs 10 per share as interim dividend. The record date for this payout will be 5^th November 2019.

                        *The numbers above are for continuing operations (excl ESRI business) 

Consolidated revenues for the quarter under review grew 19.0% over the same period last year and 8.2% sequentially over the preceding quarter to Rs 1038.5 crore. EBITDA margin for the quarter expanded to 18.3%, up 118 basis points QoQ.

Among verticals, Insurance grew 15.3% QonQ contributing 31.1% of overall revenues, BFS expanded 9.4% QonQ contributing to 16.7% of revenue, and Travel Transport and Hospitality (TTH) was up 5.8% QonQ contributing to 27.8% of revenue. Other segments collectively grew 0.8% QonQ and they now represent 24.4% of overall revenues.

Digital revenues grew by 56% YoY and 18% QoQ, contributing to 38% of the total revenues in the quarter under review. Americas, EMEA, APAC and India contributed 49%, 37%, 10% and 4% of the revenue mix.

Fresh business of US$176mn was secured by the company during the quarter. As a result, the order book executable over the next twelve months has also increased to US$405mn.

"We have delivered robust revenue and margin performance yet again in line with our stated intent to drive robust, predictable and profitable growth for our business. The fundamentals of the business continue to be strong, as reflected in the sustained deal wins and the operating margin threshold that we have established," said Mr. Sudhir Singh, Chief Executive Officer, NIIT Technologies Ltd.

Acknowledgements:

• A TBR Perspective on Transform at the intersect - NIIT Technologies and the near future of Digital and Post-digital Transformation
• A special blog by NelsonHall on how NIIT Technologies Delivers Digital Transformation with Capacity & Capability at Speed and Scale
• HfS Research PoV on Change the game with verticalized AI: NIIT Technologies' unique play as a post-digital firm

About NIIT Technologies

NIIT Technologies is a leading global IT solutions organization servicing customers across the Americas, Europe, Asia and Australia. Differentiated on the strength of its industry expertise, NIIT Technologies services clients in travel and transportation, banking and financial services, insurance, manufacturing and media verticals, offering a range of services including Application Development and Maintenance, Infrastructure Management, and Business Process Management. Focused on Digital Services, the Company is helping businesses design agile, scalable and digital operating models.

NIIT Technologies adheres to major global benchmarks and standards of quality and Information Security.

For further information, please visit www.niit-tech.com

Safe Harbor

Certain statements in this release are forward-looking statements. The business involves various risks, and uncertainties that could result in the actual results to differ materially from those indicated here. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.

SOURCE NIIT Technologies Ltd.