New Delhi : Global IT solutions provider NIIT Technologies today reported 70.3 per cent jump in net profit at Rs 68.2 crore for the quarter ended September 30 on the back of strong growth in all international geographies.
The company had posted a net profit of Rs 40.1 crore for the corresponding period last year.
The firm’s consolidated revenues rose by 15.2 cent to Rs 677.9 crore for the reported period as compared to Rs 588.3 crore in the same quarter last year.
“Growth in all international geographies and industry segments of focus resulted in 8 per cent sequential growth in international business,” NIIT Technologies CEO and Joint MD Arvind Thakur said here. He added that business in the US grew 6.2 per cent sequentially, contributing 46 per cent to overall revenues, while that of Europe, Middle East and Africa (EMEA) grew by 5.8 per cent, contributing 35 per cent of overall revenues in the reported quarter.
“We have shifted the revenue mix with more business coming from international (business). We have reduced share of domestic government contracts, which now stand at 3 per cent,” Thakur further said, adding that improved international revenue mix contributed to expansion in margins.
