NIIT net up 9% on strong order flow

NIIT net up 9% on strong order flow

New Delhi: Software training firm NIIT Ltd said on Friday net profit for July-September rose 9%, aided by strong order intake.

The company posted a profit of Rs285 crore for the period, compared with Rs262 crore a year earlier.

Revenue fell 4% to Rs346 crore.

Revenue for the year-ago quarter included an exceptional one-time pass through revenue of Rs560 crore, chief execuitve Vijay Thadani told reporters.

Total order intake for the period was Rs318 crore, resulting in a pending orderbook of Rs1,012 crore, of which 46% will be executed over the next 12 months, Thadani said.

“I think management commentary on the overall environment is very positive. The product lines that contribute the most to our on the agenda of every government, every country, everywhere," Thadani said at a news conference.

He said currency fluctuation resulted in a negative impact of Rs42 crore on revenue for the second quarter.

The company said revenue from China, which contributed about 10% of total revenue, jumped 44% for the quarter ended September.

NIIT shares, which the market values at about Rs1,100 crore, were trading up 1.33% Rs68.45 on Friday afternoon, in a Mumbai market that was down 0.69%.