NIIT Technologies Q2 net profit up over 12%

Leading IT solutions provider NIIT Technologies on Wednesday reported a 12.2 per cent rise in net profit for the second quarter ending September at Rs 119.5 crore on the back of improved performance among its various verticals.

In a statement here, NIIT Technologies said its consolidated revenue for the quarter in review at Rs 1038.5 crore grew 19 per cent over the same period last year.

"Order intake of $176 million, marks the 10th consecutive quarter of sequential increase in order intake. As a result, the order book executable over the next twelve months has also increased to $405 million" it said.

"Digital revenues grew by 56 per cent YoY (year on year) and 18 per cent QoQ, (quarter on quarter) contributing to 38 per cent of the total revenues in the quarter under review," it said.

"Among verticals, Insurance grew 15.3 per cent QoQ contributing 31.1 per cent of overall revenues, BFS expanded 9.4 per cent QoQ contributing to 16.7 per cent of revenue, and Travel Transport and Hospitality (TTH) was up 5.8 per cent QoQ contributing to 27.8 per cent of revenue," it added.IANS