New Delhi, Oct 18: Global IT solutions provider NIIT Technologies Ltd on Wednesday reported Rs 67-crore net profit for the second quarter (Q2) of fiscal 2017-18, posting 14 percent growth from Rs 59 crore in the same period year ago.
"Consolidated revenue for the quarter under review (Q2) at Rs 737 crore was up 6.4 percent from Rs 693 crore in the like period a year ago and 4 percent up sequentially from a quarter ago," said the NCR-based company in a statement here.
Operating profit at Rs 119 crore was up 4 percent from Rs 115 crore year ago and 7.5 percent up sequentially from a quarter ago.
"Robust sequential growth during the quarter came on the back of strong growth in the US, APAC, and India," said Chief Executive Officer Arvind Thakur on the occasion.
Operating margin expanded 53 basis points sequentially to 16.2 percent for the quarter.
Revenue from the US market, which contributes to 50 percent of the mix, grew 5.5 percent sequentially, while APAC and India accounted for 11 percent and 10 percent, respectively.
Revenue from Europe, Middle East and Africa (EMEA), however, declined 4.8 percent sequentially owing to ramp down in a travel client, resulting in the share of the region is 29 percent of the total mix.
Among verticals, revenue from the BFSI (Banking, Financial Services, and Insurance) segment had a good traction to increase 5.6 percent sequentially during the quarter and accounted for 42 percent of the revenue.
Revenue from travel and transportation was 27 percent of the overall revenue, while manufacturing, media and other segments contributed 31 percent on ramping up digital engagements in the US.
"Deal momentum has been strong during the quarter, with $122 million new business and the addition of 7 new clients," said CEO-designate Sudhir Singh in the statement.
Digital business gained traction, with 3 of the 7 new logos secured in the digital integration space.
"Digital business grew 14 percent sequentially to contribute 23 percent of the total revenue", said NIIT Chairman Rajendra S. Pawar.
The company, however, added only 59 techies, taking its headcount to 9,022 for Q2
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