Delivers robust 145% growth in PAT for FY’16 as Board recommends 10 dividend per share
NIIT Technologies announced its financial results for the year FY15-16 resulting in revenues of 2,682 Crores, operating profits at 473 Crores and net profits at 280 Crores. In Q4, consolidated revenues for the quarter grew 0.9% sequentially to 684.7 Crores and operating profits improved by 2% sequentially to 126.1 Crores. Net profits improved sequentially by 6.4% to 79 Crores.
According to the press release, 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.
Q4 Highlights:
|
JAN-MAR QUARTER Performance at a Glance |
|||
|
|
Qtr ended |
Qtr ended |
Growth |
|
Consolidated Revenues |
611.2 |
684.7 |
12.0% |
|
Operating Profit |
99.7 |
126.1 |
26.5% |
|
Profit After Tax |
(17.5) |
79 |
Loss to profit |
The quarter witnessed robust growth in BFSI expanding 6% sequentially contributing to 40% of revenues while Travel and Transportation contributed to 32% of total revenues. Other segments of focus like Manufacturing/Distribution and Government contributed to 8% and 4% of the revenue mix respectively. 4 new clients were added during the quarter 2 each in Americas and APAC. Fresh orders of USD 120 Mn were secured during the quarter leading to USD 301 Mn worth of orders executable over the next 12 months Digital revenues contributed to 16% of the overall mix during the quarter, said the release.
Arvind Thakur, CEO, NIIT Technologies said, “Growth during the year came on the back of increased international business and growth in BFSI sector. Operating Margins improved through the year and this trend continued in Q4 with margins expanding by 20 bps during the quarter.”
Mr. Sudhir Chaturvedi, COO, NIIT Technologies added, “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.”
