NIIT Tech Q3 net up 40% at Rs 64 cr q-o-q

IT company NIIT Technologies today reported a 34% increase in consolidated net profit to Rs 64 crore for the quarter ended December 31, 2011.

The company had posted a net profit of Rs 47.8 crore for the same period a year ago.

NIIT Technologies registered a 44% jump in consolidated revenue to Rs 433 crore during the reporting quarter, compared to Rs 300.6 crore in the same period during FY11.

"We are pleased to report another quarter with all-round revenue growth in each geography and a quarter with growth in every industry segment of focus," NIIT Technologies Chief Executive Officer Arvind Thakur said

Consolidated revenues grew 16.7% sequentially during the quarter on the back of volume growth of 7.8% vis-a-vis the previous quarter.

"Strong growth in the US and EMEA and robust traction in the travel and transport segment were the prime contributors to these impressive results," Thakur added.

During the quarter, the company got multi-million dollar repeat orders from top clients, which led to $75 million of fresh order intake and a $245 million executable order book for the next 12 months.

The company added four new customers during the quarter, including two customers in the BFSI (banking, financial services and insurance) space and one each in the travel and transport and manufacturing segments.

"Strong order build-up and continued year-on-year improvement in fresh order intake will sustain growth for the company," NIIT Technologies Chairman Rajendra S Pawar said.

Thakur said that transformational engagements secured in the previous quarter, along with growth in key accounts and the complete integration of its Spanish acquisition, resulted in the revenue share of US and Europe, West Asia and Africa region increasing to 37% and 39%, respectively.

Travel and transportation contributed 38% of revenue mix, while BSFI contributed 36% of revenues, he said.

During the quarter, the company successfully commissioned the Rs 229 crore Border Security Force 'Intranet Prahari' project.

The company is now looking at execution of a Crime and Criminal Tracking Network Systems (CCTNS) security project, for which it has secured orders from two states in the country.

Thakur said that NIIT Technologies made a net addition of of 245 employees during the quarter, taking its total headcount to 6,978.