Performance Update (Quarter & 9 months ended Dec, 08)
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NIIT Technologies Limited is a global IT solution provider. Amidst the global financial crisis, the company recorded marginal growth of around 8 per cent for the quarter ended December 31, 08 vis-a-vis corresponding quarter in the last year. However, on a cumulative basis, the revenue for nine months was higher by around 21 per cent vis-a-vis corresponding period in last year.
Operating profitability represented by EBIDTA margin almost halved to around 15 per cent during Dec 08 quarter. The profitability was mainly impacted by higher other operating expenses (INR 412.8 Mn, against INR 257.7 Mn), which in turn was higher on account of charge towards development cost of INR 121.3 Mn and Foreign Exchange Loss of INR 117.3 Mn. However, the EBIDTA margin for nine months was higher at around 24 per cent (though lower than 33 per cent of last year).
Net Profit was lower on account of lower EBIDTA margins.
Comments
NIIT Technologies Limited is a global IT solution provider. Amidst the global financial crisis, the company recorded marginal growth of around 8 per cent for the quarter ended December 31, 08 vis-a-vis corresponding quarter in the last year. However, on a cumulative basis, the revenue for nine months was higher by around 21 per cent vis-a-vis corresponding period in last year.
Operating profitability represented by EBIDTA margin almost halved to around 15 per cent during Dec 08 quarter. The profitability was mainly impacted by higher other operating expenses (INR 412.8 Mn, against INR 257.7 Mn), which in turn was higher on account of charge towards development cost of INR 121.3 Mn and Foreign Exchange Loss of INR 117.3 Mn. However, the EBIDTA margin for nine months was higher at around 24 per cent (though lower than 33 per cent of last year).
Net Profit was lower on account of lower EBIDTA margins.
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