NIIT Technologies Q1 FY'20 Revenue Up 16.7% YoY

NIIT Technologies Limited (NSE: NIITTECH), a leading global IT solutions organization, today announced its financial results for Q1 FY2019-20. The Company has reported consolidated revenue of ₹962.7 crore and net profit of ₹87.6 crore.

Q1 Highlights:

· Revenues grew 16.7% YoY.

· Profit after taxes up 2.0% YoY on reported basis, up 17.3% YoY after adjusting for non-recurring expenses. · Order intake of US$ 175 mn, marking the 9th consecutive quarter of sequential increase in order intake.

Qtr. performance at a glance

Particulars

Qtr. ended

Qtr. ended

Growth

Qtr. ended (Adjusted)

Growth

30-Jun-18

30-Jun-19

YoY

30-Jun-19

YoY

Rs. Cr

Rs. Cr

Rs. Cr

Consolidated Revenues

824.9

962.7

16.7%

962.7

16.7%

EBITDA

130.6

138.8

6.3%

162.3

24.3%

EBITDA Margin

15.8%

14.4%

- 142 bps

16.9%

103 bps

Profit After Tax

85.8

87.6

2.0%

100.6

17.3%

The quarter under review had one-time non-recurring expenses of Rs. 235 mn translating to a negative impact of 240 bps. Adjusted for that, the EBITDA margin for the quarter stood at 16.9%, an expansion of 103 basis points YoY, and PAT increased 17.3% YoY to Rs 100.6 crore.

In constant currency terms, BFS expanded 2.8% QoQ contributing to 16.5% of revenue, Travel and Transport (TT) was up 5.9% QoQ contributing to 28.3% of revenue and Insurance grew 6.6% QoQ contributing 29.1% of overall revenues. Others segments collectively grew 1.5% QoQ and they now represent 27.0% of overall revenues.

Digital revenues grew 46% YoY contributing to 34% of the total revenues. Americas, EMEA, APAC and India contributed 49%, 35%, 11% and 5% of the revenue mix.

The Company secured fresh business of US$175mn during the quarter. The order executable over the next twelve months has also increased to US$395mn.

"We registered a good performance in Q1 FY20 and the fundamentals of the business are strong," said Mr. Sudhir Singh, Chief Executive Officer, NIIT Technologies Ltd.