NIIT Dec quarter net slips 12.5% to Rs 56 cr
Jan 15 2013 , New Delhi
The company had reported a net profit of Rs 64 crore in the corresponding quarter last year.
Consolidated revenue of the company was, however, up 18.8 per cent to Rs 514 crore for Q3 of FY 13 as compared to Rs 433 in the same period last year.
"There was softness in the BFSI (banking, financial services and insurance) segment due to overall economic uncertainties with a major catastrophe like hurricane Sandy causing losses among reinsurers," NIIT Technologies Chief Executive Officer Arvind Thakur told reporters here.
Business in the US contributed to 37 per cent of revenues, Europe, the Middle East and Africa (EMEA) improved to 40 per cent of the total revenue share, while the revenue share from Asia-Pacific (APAC) and India remained at 23 per cent, he added.
"Revenues grew 4.4 per cent sequentially in constant currencies during the quarter reflecting the sustained growth momentum of the company," Thakur said.
He added $ 83 million of fresh orders was secured during the quarter which included a $ 10 million renewal in travel and transport, leading to $ 242 million of order book executable over the next 12 months.
The company added four new clients which included two from manufacturing and one each in travel and transportation and government.
"Despite the uncertain environment the company has been securing fresh orders at a steady rate throughout the year," NIIT Technologies Chairman Rajendra S Pawar said.
The company added 265 net employees during the quarter taking the total headcount to 7,882 at the end of the period.