NIIT Technologies Ltd posts flattish Q3 results

NIIT Technologies Ltd. consolidated results for the quarter ended December 31, 2016 were largely flattish on a sequential basis, showing marginal growth at the net profit level. The company's revenue rose marginally on YoY basis but dropped by more than 10 per cent at the net profit level.

The company's consolidated sales for Q3FY17 at Rs 693.8 crore represented 0.1 per cent sequential increase and 2 per cent YoY growth.

Its operating profit (EBIT) for the quarter was Rs 116.2 crore, while the EBIT margin was 16.75 per cent.

The company reported PAT of Rs 62.4 crore, representing sequential QoQ increase of 5.9 per cent but YoY decline of 10.09 per cent.

The company's stock opened for trading at Rs. 418.25 on the BSE, and fell 0.5 per cent after the results were declared. It is currently trading around the Rs 416.3 mark.

NIIT Technologies Ltd is an IT company that focuses on customers in the banking, financial services and insurance, travel transportation and logistics, and retail and distribution sectors. The company offers services in application development and management, enterprise solutions and managed services.