NIIT Tech Q4 net up 16.3% to Rs 86 cr

IT firm NIIT Technologies today said its net profit increased 16.3 per cent to Rs 86.1 crore for the March 2018 quarter, excluding the impact of a one-time settlement in the year-ago period.

NIIT Technologies, in a statement, said the net profit in the January-March 2017 period was at Rs 73.9 crore, excluding the settlement.

On a like-to-like basis, the revenue grew 9.9 per cent to Rs 788.8 crore in the reported quarter from Rs 717.6 crore in the January-March 2017 quarter.

Including the one-time settlement, net profit dipped 14.3 per cent.

"During the same period last year, the company entered into a settlement with a government client which provided a one-time revenue of Rs 27 crore in that quarter. Year-on-year operating performance may be best viewed excluding this one off gain in Q4 FY17," NIIT Technologies said in a statement.

The company said it secured fresh business of USD 145 million during the reported quarter, which included two large deals and seven new logos.

"Of the fresh business secured during the quarter, USD 39 million was from the US, USD 73 million from Europe, the Middle East and Africa (EMEA) and USD 33 million from rest of the world. Order book executable over the next 12 months expanded to USD 339 million," it said.

Digital revenues grew 9 per cent sequentially contributing to 26 per cent of the total revenues in the said quarter.

Banking, financial services, and insurance vertical grew 5.4 per cent during the quarter contributing to 44 per cent of total revenues. Revenues in travel and transportation segment remained flat and represented 26 per cent of the revenue mix.

Revenues from EMEA contributed 32 per cent of the revenue mix, while the US accounted for 48 per cent, and India and APAC 10 per cent each.

For the full fiscal, net profit improved by 12.1 per cent to Rs 280 crore, while revenue during the year grew 6.8 per cent to Rs 2,991 crore.

The board recommended dividend of Rs 15 per share.