NIIT Tech Q4 PAT falls 7.9% QoQ to Rs 113.60 cr

NIIT Technologies' consolidated net profit fell 7.9% to Rs 113.60 crore on a 3.3% increase in revenue to Rs 1109.3 crore in Q4 March 2020 over Q3 December 2019.

Consolidated EBITDA stood at Rs 198.8 crore in Q4 March 2020, rising by 2.5% quarter on quarter (QoQ) from Rs 194 crore reported in Q3 December 2019. EBITDA margin dropped to 17.9% in Q4 March 2020 from 18.1% in Q3 December 2019.

NIIT Technologies' consolidated net profit soared 10.09% to Rs 444 crore on a 13.81% increase in revenue to Rs 4,183.90 crore in the year ended March 2020 (FY20) over the the year ended March 2019 (FY19).

NIIT Technologies said fresh business of $180 million was secured during the quarter, which included three large deals. As a result of this continued deal momentum, the order book executable over the next twelve months has also increased to $468 million, representing a growth of 20% YoY.

Commenting on company's performance, Sudhir Singh, Chief Executive Officer, NIIT Technologies said, "The firm recorded one its best annual performances ever in FY'20, which has come on the back of a similarly strong performance delivered in the preceding year. A differentiated strategy, strong tech capabilities, and sharp execution enabled us to deliver sustained large deal wins and an industry-leading growth for the fourth quarter of FY'20, overcoming unprecedented COVID-19 headwinds."

The company said it has 106 active clients as of 31 March, which includes 11 clients of $10 million. Attrition rate for Q4 March 2020 stood at 11.8% against 12.2% reported last year in the same period.

NIIT Technologies soared 10.06% to Rs 1308 in BSE. The company also announced an interim dividend of Rs 11 per share.

NIIT Technologies is an IT solutions organization offering information technology solutions services in application development and maintenance, enterprise solutions including managed services, cloud computing and business process outsourcing management.

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