NIIT Technologies Q1 FY'20 Revenue Up 16.7% YoY

NOIDA, India, July 23, 2019 /PRNewswire/ -- 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.

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.

Acknowledgements:

• NIIT Technologies ranked #1 in 'Business Understanding' for the second consecutive year in 'Whitelane's 2019 UK IT Sourcing Study'.
• NIIT Technologies named as a Leader among midsize agile software development service providers, by Forrester Research Inc., an independent research and advisory firm, in their report, The Forrester Wavetm: Midsize Agile Software Development Service Providers, Q2 2019.
• NIIT Technologies companies Incessant Technologies and RuleTek received Pega Partner Award 2019 for 'Excellence in Growth and Delivery'.

About NIIT Technologies Ltd.

NIIT Technologies is a leading global IT solutions organization, enabling its clients to transform at the intersect of unparalleled domain expertise and emerging technologies to achieve real-world business impact. The Company focuses on three key verticals: Banking and financial services, Insurance, Travel and Transportation. This domain strength combined with leading-edge capabilities in Data & Analytics, Automation, Cloud, and Digital, is enabling its clients to drive business transformation.

With over 10,000 employees serving clients across Americas, Europe, Asia, and Australia, NIIT Technologies fosters a culture that promotes innovation and constantly seeks to find new yet simple ways to add value for its clients.

Learn more about NIIT Technologies at www.niit-tech.com.

Safe Harbor

Certain statements in this release are forward-looking statements. The business involves various risks, and uncertainties that could result in the actual results to differ materially from those indicated here. All forward-looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.

SOURCE NIIT Technologies Ltd.