NIIT Technologies has reported a consolidated revenue of Rs. 226.30 crore in the three months ended September 30, 2009, against Rs. 258.70 crore in the year-ago period.
The net profit stood at Rs. 32.10 crore against Rs. 36.70 crore.
“In the period to the run up to the quarter which has been extremely challenging, and in this quarter, the company has achieved great success in improving its operating efficiencies” said Arvind Thakur, Chief Executive Officer.
“Operating margins jumped to 20 per cent during this quarter representing a change of more than two per cent both sequentially and year-on-year,” he added.
Business in the BFSI (Banking financial services and insurance) segment increased its overall share to 44 per cent and the company further strengthened its position in travel and transport which contributed 30 per cent of the revenues.
Fresh orders worth $ 51 million were secured during this quarter which included three new clients — two in travel and one in retail. Large extensions were secured with existing clients in the travel space in the U.S. and Australia and significant new business came in from existing insurance clients in the U.K.
“The environment continues to be volatile particularly with respect to global currencies. However, the overall sense is that the economic climate is stabilising,” said Rajendra S. Pawar, Chairman. “To build value as we come out of the downturn, the board has made a grant under the existing ESOP (employee stock option plan) which would cover over 500 managers” he added.
In all, the total number of people engaged at the end of the quarter under review was 3,917.