Strong Q4 PAT drives NIIT Technologies on D-Street; shares skyrocket 12%

NIIT Tech's consolidated net profit rose by 11.4% to Rs113.6cr versus Rs102cr a year ago same period.

May 06, 2020 11:05 IST India Infoline News Service

NIIT
A whopping 12% rise has been witnessed in IT-service provide NIIT Technologies share price on Dalal Street during Wednesday's trading session. The company has announced its March 2020 (Q4FY20) result, which has driven investor sentiments for parking their money in this share.

At around 11.04 am, NIIT Technologies share price was trading at Rs1328 per piece on Sensex, soaring by Rs139.55 or 11.74%.

The share has skyrocketed by 12.19% by witnessing intraday high of Rs1338 per piece on Sensex.

In Q4, NIIT Tech's consolidated net profit rose by 11.4% to Rs113.6cr versus Rs102cr a year ago same period. Similarly, gross revenue increased by 19% to Rs1,109.3cr against Rs931.9cr in Q4FY19.

Consolidated operating profit (EBITDA) grew by a massive 25.5% to Rs198.8cr compared to Rs162.4cr in Q4FY19. EBITDA margin was at 17.9% up by 92 bps from Q4FY19's 17%.

On a geographical basis, growth was led by a rise in EMEA business where company's share was 40% in Q4 from 37% in Q4FY20, due to higher revenues in key accounts in BFS, NITL and Whishworks. Meanwhile, the decline was witnessed in America business due to due to lower revenue in TTH.

The company's employees headcount stood at 11,156 in Q4 from 10,849 in Q3FY20.

Related Story