NIIT Technologies zooms 31% in one week as Q3 results beat estimates
The stock hit a new high of Rs 906, up 5% on BSE, extending its past four days gain on BSE
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NIIT Technologies
NIIT Technologies hit a new high of Rs 906, up 5% on BSE, extending its gains for tha past four days, after the company reported a better than expected 12.4% sequential growth in consolidated net profit at Rs 756 million in December quarter (Q3FY18).
In past one week, the stock rallied 31% from Rs 692 on January 18, as compared to 2% rise in the S&P BSE Sensex. The stock of information technology (IT) company is top gainer in weekly chart among the S&P BSE 500 index.
NIIT Technologies posted consolidated revenue growth of 2.6% at Rs 7,565 million and constant currency (CC) revenue growth of 1.7% during the quarter.
“Sequential growth during the quarter came on the back traction in two keys segments of Travel and BFSI. Operating margins expanded 97 bps sequentially to 17.1% as a result of growth in Digital engagements in US and EMEA,” said Sudhir Singh, Chief Executive Officer, NIIT Technologies.
NIIT Technologies said it has order intake at $130 million. While about $329 million of firm business executable over next 12 months.
The brokerage firm Motilal Oswal Securities expected 0.7% quarter on quarter (QoQ) CC revenue growth, net profit of Rs 660 million and EBITDA expansion of 50 bps in Q3FY18.
“We expect growth of 1.5% on CC terms driven by strong traction in core business (Digital, NITL) despite muted revenues from Morris. OPM is expected to improve by 10bps QoQ on strong volume traction. Net profit to decline by 3% QoQ at Rs 653 million,” Emkay Global Financial Services said in Q3FY18 results preview.
At 12:09 PM; NIIT Technologies was trading 4% higher at Rs 896, against 0.25% decline in Sensex. The trading volumes on the counter more than doubled with a combined 2.78 million shares changed hands on BSE and NSE so far.
In past one week, the stock rallied 31% from Rs 692 on January 18, as compared to 2% rise in the S&P BSE Sensex. The stock of information technology (IT) company is top gainer in weekly chart among the S&P BSE 500 index.
NIIT Technologies posted consolidated revenue growth of 2.6% at Rs 7,565 million and constant currency (CC) revenue growth of 1.7% during the quarter.
“Sequential growth during the quarter came on the back traction in two keys segments of Travel and BFSI. Operating margins expanded 97 bps sequentially to 17.1% as a result of growth in Digital engagements in US and EMEA,” said Sudhir Singh, Chief Executive Officer, NIIT Technologies.
NIIT Technologies said it has order intake at $130 million. While about $329 million of firm business executable over next 12 months.
The brokerage firm Motilal Oswal Securities expected 0.7% quarter on quarter (QoQ) CC revenue growth, net profit of Rs 660 million and EBITDA expansion of 50 bps in Q3FY18.
“We expect growth of 1.5% on CC terms driven by strong traction in core business (Digital, NITL) despite muted revenues from Morris. OPM is expected to improve by 10bps QoQ on strong volume traction. Net profit to decline by 3% QoQ at Rs 653 million,” Emkay Global Financial Services said in Q3FY18 results preview.
At 12:09 PM; NIIT Technologies was trading 4% higher at Rs 896, against 0.25% decline in Sensex. The trading volumes on the counter more than doubled with a combined 2.78 million shares changed hands on BSE and NSE so far.