NIIT profit after tax down 5.8% to Rs 43.1 cr in July-September quarter

IT firm NIIT Technologies today reported a decline of 5.8 per cent in consolidated profit after tax (PAT) of Rs 43.1 crore for the quarter ended September 30, due to appreciating rupee.

The company had posted a PAT of Rs 45.8 crore in the September quarter last year.

NIIT Tech's revenue, however, grew to Rs 500.1 crore for the quarter from Rs 371.1 crore in the corresponding period a year ago, translating into a growth of 34.8 per cent.

"We are pleased to report yet another quarter of significant growth with international revenues growing sequentially by 8.9 per cent," NIIT Technologies CEO Arvind Thakur told reporters.

Mr Thakur added that operating profit grew even better than revenue. "However, loss in other income due to the appreciating rupee at the end of the quarter resulted in a decline in net profit," he said.

On a consolidated basis, operating profit of NIIT for the quarter ended September 30 stood at Rs 84.8 crore, as against Rs 55 crore, a growth of 54.2 per cent.

During the quarter, the company added three new clients.

It had 173 net addition in staff, taking the total headcount to 7,617 at the end of the reported quarter.

Shares of the company were trading at Rs 279.55, down 1.17 per cent at BSE at 14:28 hours.