NIIT Tech Q2 net profit up 12.2 pc to Rs 119.5 cr

IT firm NIIT Technologies Ltd (NTL) on Wednesday reported a 12.2 per cent increase in consolidated net profit at Rs 119.5 crore in the quarter ended September 30, 2019.

The net profit, which excludes the contribution of NTL's GIS business, stood at Rs 106.5 crore in July-September 2018 quarter, NTL said in a regulatory filing.

In April, NTL had agreed to sell its 88.99 per cent stake in Esri India Technologies Ltd to Environmental Systems Research Institute, Inc (Esri, Inc) for Rs 89.7 crore.

The company's consolidated revenue rose 19 per cent to Rs 1,038.5 crore in the quarter under review from Rs 872.3 crore in the year-ago period.

"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," NTL Chief Executive Officer Sudhir Singh said.

The fundamentals of the business continue to be strong, as reflected in the sustained deal wins and the operating margin threshold that NTL has established, he added.

The company's digital revenue grew 56 per cent year-on-year, contributing to 38 per cent of the total revenue in the quarter under review.

Americas, Europe, Middle East and Africa (EMEA), Asia Pacific and India contributed 49 per cent, 37 per cent, 10 per cent and 4 per cent to the revenue mix, respectively.

Shares of the company closed 1.05 per cent higher at Rs 1,467.55 apiece on the BSE.

NTL secured fresh business of USD 176 million during the quarter. As a result, the order book executable over the next twelve months has increased to USD 405 million.

The board has recommended an interim dividend of Rs 10 per share, and the record date for this payout has been set for November 5, 2019.

NTL added 503 people (net) during September 2019 quarter, taking its total headcount to 10,800 people. The attrition was at 12.33 per cent during the said quarter.