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NIIT Technologies reports 30% fall in Q2 net profit

17 Oct 2016

NIIT Technologies has reported results for second quarter ended September 30, 2016.

The company has reported 29.69% fall in its net profit at Rs 28.63 crore for the quarter under review as compared to Rs 40.72 crore for the same quarter in the previous year, on account of fall in higher margin UK insurance business as well as higher tax rate.

However, total income of the company increased by 3.76% at Rs 391.26 crore for the quarter under review as compared Rs 377.07 crore for the corresponding quarter previous year, supported by growth in its banking, financial services and insurance business (BFSI) business from United States. 

NIIT Technologies is a leading global IT solutions organization, servicing customers in Americas, Europe, Middle East, Asia and Australia. It offers services in Application Development and Maintenance, Infrastructure Management Services, IP Asset or Platform Solutions, and Business Process Management to organizations.

 

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