NIIT Technologies Q3 FY'20 Revenue up 16% YonY

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GURUGRAM, India, Jan. 29, 2020 /PRNewswire/ -- NIIT Technologies Limited (NSE: NIITTECH), a leading global IT solutions organization, today announced its financial results for Q3 FY2019-20. The Company has reported consolidated revenue of ₹1073.4 crore and net profit of ₹123.3 crore for Q3 FY'20.

Q3 Highlights:

• Revenues grew 16.1% YonY and 3.4% QonQ
• Profit after taxes were up 33.8% YonY and 3.2% QonQ
• Order intake of US$ 218 mn, marking the 11th consecutive quarter of sequential increase in order intake
• The Board recommends an interim dividend of Rs 10 per share, the second during the current financial year. The record date for this payout will be February 10, 2020.

Consolidated revenues for the quarter under review grew 16.1% over the same period last year and 3.4% sequentially over the preceding quarter to Rs 1073.4 crore. EBITDA margin for the quarter was stable YoY at 18.1%.

In reported terms, BFS contracted 1.3% QoQ contributing to 16.0% of revenue, Travel Transportation and Hospitality (TTH) was up 6.2% QoQ contributing to 28.5% of revenue, and Insurance grew 0.2% QoQ contributing 30.2% of overall revenues. The "Others" portfolio grew 7.4% QoQ and they represents 25.3% of overall revenues.

Americas, EMEA, and ROW contributed 48%, 37%, and 15% of the revenue mix.

Fresh business of US$218 mn 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$424 mn.

"The firm registered a robust performance in the quarter across key parameters including revenue, earnings, cashflow, and deal wins, in line with our stated intent to drive robust, predictable and profitable growth," said Mr. Sudhir Singh, Chief Executive Officer, NIIT Technologies Ltd.

Acknowledgements:

• NIIT Technologies recognized as a Leader in NelsonHall Agile and DevOps NEAT Report 2019
• NIIT Technologies positioned as a Star Performer and Major Contender in Everest Group P&C and L&A PEAK Matrix^® 2019
• AdvantageGo named as one of the "Hot 100" Insuretech firms by Intelligent Insurer Magazine

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.

For media queries please contact:
Runki Goswami
Corporate Communications
NIIT Technologies Ltd.
+91-9000301206
[email protected]

For investor/analyst queries please contact:
Abhinandan Singh
Head – Investor Relations and M&A
NIIT Technologies Ltd.
+91-22-40103212
[email protected]

SOURCE NIIT Technologies Ltd.