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NIIT Technologies Q4FY16 standalone net profit declines 36% qoq to Rs.31.48 crore

The company’s standalone revenue stood at Rs. 352.42 crore, down 7.51% qoq and 2.94% yoy.

May 06, 2016 2:26 IST | India Infoline News Service
NIIT Technologies, global IT services and software solution providers, reported standalone net profit of Rs.31.48 crore for the quarter ended March 31, 2016, registering decline of 35.85% qoq, but growth of 11142.86% yoy. The company’s revenue stood at Rs. 352.42 crore, declining 7.51% qoq and 2.94% yoy.

It's standalone operating profit of Rs. 52.71 crore for the quarter, declined 33.3% qoq but grew 20.98% yoy. Operating profit margin for the current quarter at 14.96% contracted by 578 bps qoq but expanded by 296 bps yoy.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 194.01 crore, up by 31.46% yoy. It's standalone revenue for the current period stood at Rs. 1,467.81 crore, registering growth of 9.04% yoy.

NIIT Technologies Ltd's core operating profit for the current period stood at Rs. 269.68 crore, increasing by 17.81% yoy. Operating margin for the current period at 17.71% expanded by 70 bps yoy.

On consolidated basis, the company’s net profit zoomed by 143.57% at Rs. 296.96 crore for the year ended March 31, 2016. Its total income stood at Rs. 2675.46 crore for the year under review, up by 12.77%. Meanwhile, its operating profit at Rs. 472.45 crore for the year has risen by 41.93. OPM at 17.65% has increased by 26 bps.

Result Highlights: (Rs. in crore)

Reported Results yoy % qoq%
standalone Revenue 352.42 -2.94 [7.51]
standalone Net Profit 31.48 11142.86 [35.85]

Standalone EPS for the quarter stood at Rs. 5.15.

Bloomberg estimated the company’s consolidated net profit at Rs. 73.83 crore.

Corporate Action: NIIT Technologies at its meeting held on May 06, 2016, inter alia, have recommended a dividend of Rs. 10 per equity share (Previous year : Rs. 9.50 per share).

Stock Commentary:

NIIT Technologies Ltd is currently trading at Rs. 481.6, up by 20.15 points or 4.37% from its previous closing of Rs. 461.45 on the BSE.

The scrip opened at Rs. 464.1 and has touched a high and low of Rs. 492.3 and Rs. 456.2 respectively. So far 1285187(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2823.45 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 632 on 18-Nov-2015 and a 52 week low of Rs. 365 on 13-May-2015. Last one week high and low of the scrip stood at Rs. 482 and Rs. 453.45 respectively.

The promoters holding in the company stood at 30.8 % while Institutions and Non-Institutions held 53.32 % and 15.88 % respectively.

The stock is currently trading below its 200 DMA.


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