NIIT Technologies Ltd's Q2FY17 consolidated net profit rises 105.94% qoq to Rs.58.90 crore : Beats Estimates

India Infoline Research Team | October 15, 2016 17:30 IST

NIIT Technologies Ltd Q2FY17

Consolidated Results Q2FY17: (Rs. in crore)

Q2FY17 QoQ (%)
Revenue 692.90 3.3
EDITDA 114.50 12.8
EBITDA Margin (%) 16.5 139
Net Profit (adjusted) 58.90 105.9
***EBITDA margin change is bps

NIIT Tech’s Q2FY17 result beat the market consensus. The street was expecting topline growth of ~2.4% QoQ.

The consolidated net revenue for the quarter grew by 3.3% QoQ to Rs. 692.9 cr due to strong growth in BFSI business from America and good traction in travel and transportation vertical.

]The consolidated EBITDA grew by 12.8% QoQ to Rs. 114.5 cr due to strong revenue growth and improvement in EBITDA margins by 139 bps QoQ. The consolidated EBITDA margin for Q2FY17 stood at 16.5% against 15.1% of previous quarter.

The consolidated net profit grew 105.9% QoQ to Rs. 58.9 cr against Rs. 28.6 cr of last quarter.

Technical View:

NIIT Technologies Ltd is currently trading at Rs. 410.5, down by 29.2 points or 6.64% from its previous closing of Rs. 439.7 on the BSE.
The scrip opened at Rs. 450 and has touched a high and low of Rs. 450.4 and Rs. 409.1 respectively. So far 1175883(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

BSE 630.20 [10.50] ([1.64]%)
NSE 631.10 [11.60] ([1.80]%)

***Note: This is a NSE Chart



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