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NIIT Technologies delivers robust 145% growth in PAT for FY'16

| | May 07, 2016, at 01:52 am
#NIIT Technologies # financial results # PAT # FY'16
Kolkata/Noida, May 6 (IBNS): NIIT Technologies Limited, a leading global IT solutions organization, announced its financial results for the year FY15-16 resulting in revenues of Rs. 2,682 Crores, operating profits at Rs. 473 Crores and net profits at Rs. 280 Crores.
“Growth during the year came on the back of increased international business and growth in BFSI sector," said Arvind Thakur, Chief Executive Officer, NIIT Technologies Ltd. 
 
“Operating Margins improved through the year and this trend continued in Q4 with margins expanding by 20 bps during the quarter," he added.
 
BFSI grew 29% during the year, increasing the revenue share to 38% from 33% last year. Travel and Transportation contributed to 35% of revenues. 
 
Manufacturing/Distribution share of revenues stood at 8% and Government at 4% of revenues for the year.
 
Americas had a robust growth of 17%, representing 46% of total revenue mix. EMEA grew by 8% during the year resulting in 34% contribution to the revenue. APAC contributed to 10% of total revenue mix. India revenue share reduced to 10% declining 14% YoY as a result of reduced focus on Government business.
 
Consolidated revenues for the quarter grew 0.9% sequentially to Rs. 684.7 Crores and operating profits improved by 2% sequentially to Rs. 126.1 Crores. Net profits improved sequentially by 6.4% to rs. 79 Crores.
 
“The order intake includes a new multi-year large transformational outsourcing engagement with an insurance client in Europe and another multimillion dollar new insurance logo acquired in the US," said Sudhir Chaturvedi, Chief Operating Officer, NIIT Technologies Ltd.
 
Rajendra S. Pawar, Chairman, NIIT Technologies Ltd. said, “The Company has built a strong partner eco-system which would be the driving force for growth in Digital Services."
 
Total headcount stood at 9,476 at the end of the period under review, and attrition rate being 12.7%.

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