NIIT Tech net down 12.4%

Delhi-based NIIT Technologies today posted a 12.4 per cent fall in its profit after tax (PAT) for the second quarter ended September 30, owing to a foreign exchange loss of $153 million (around Rs 700 crore). PAT stood at Rs 32.1 crore compared to Rs 36.7 crore in the year ago period. Consolidated revenues, at Rs 226.3 crore, were down 12 .5 per cent year-on-year from Rs 258.7 crore.

Sequentially, PAT rose 82 per cent from Rs 17.6 crore in the trailing quarter, while revenues were up 3.7 per cent on a quarter-on-quarter basis. The BFSI segment contributed 44 per cent to revenues, while the travel and transport vertical contributed 30 per cent. Fresh orders worth $ 51m (around Rs 236 crore) were secured in the quarter.