NIIT Technologies Reports Industry-leading Q4 FY'20 Results
NOIDA, India, May 5, 2020 /PRNewswire/ -- NIIT Technologies Limited (NSE: NIITTECH), a leading global IT solutions organization, today announced a robust financial and operating performance for the quarter and year ended March 31, 2020 (FY2019-20). Continuing its growth momentum, the Company has reported consolidated revenue of Rs 4,180.9 crore representing a growth of 18.5% over the previous year. Profit after Tax (PAT) for the year scaled 23.2% to Rs 474.0 crore. For the fourth quarter of FY'20, the Company has reported a 19.0% increase in consolidated revenue to ₹1,109.3 crore and a 11.4% rise in net profit to ₹113.6 crore, over the same period last year.
- Revenues grew 18.5%
- EBITDA up 22.4%, EBITDA margin at 17.9%. Post RSU, EBITDA margin at 17.8%.
- Profit after taxes were up 23.2%
- Cumulative order intake for the year is US$ 748 million, up 16% over previous year.
- The Board recommends an interim dividend of Rs 11 per share, which comes on the back of two interim dividends paid out earlier during the financial year under review. The record date for this payout will be 15th May 2020.
- Revenues grew 19.0% YonY and 3.3% QonQ
- EBITDA* up 24.4% YonY and 2.5% QonQ resulting in best-in-class EBITDA margin of 17.9%
- Profit after taxes were up 11.4% YonY and down 7.9% QonQ
- Order intake of US$ 180 mn, with 3 large deals secured, reflecting continued deal signing momentum
Quarter performance at a glance*
Profit After Tax
*The numbers above are for continuing operations (excl ESRI business)
*Q4FY'20 EBITDA is before RSU cost. (EBITDA post RSU is Rs 197.1 Cr implying 17.8% margin)
"The firm recorded one of its best annual performances ever in FY'20, which has come on the back of a similarly strong performance delivered in the preceding year. A differentiated strategy, strong tech capabilities, and sharp execution enabled us to deliver sustained large deal wins and an industry-leading growth for the fourth quarter of FY'20, overcoming unprecedented COVID-19 headwinds," said Mr. Sudhir Singh, Chief Executive Officer, NIIT Technologies Ltd.
Consolidated revenues for the quarter under review grew 19.0% over the same period last year and 3.3% sequentially over the preceding quarter to Rs 1,109.3 crore. EBITDA margin for the quarter expanded 92 bps YoY to 17.9%. EBITDA margin (post RSU) for the quarter was up 76 bps YoY at 17.8%. Profit After Tax for the quarter was up 11.4% YonY at Rs 113.6 crore.
Among verticals, during Q4 FY'20 Insurance grew 5.8% QonQ contributing 31% of overall revenues, BFS contracted 0.1% QonQ contributing to 15% of revenue, and Travel & Transport was down 2.1% QonQ contributing to 27% of revenue. The "Others" portfolio grew 8.7% QoQ and they account for 27% of overall revenues during Q4 FY'20.
Digital revenues stood at 38% of the total revenues same as last quarter and increased 47% YoY. Among geographies, Americas, EMEA, and ROW contributed 46%, 40%, and 14% of the Q4 FY'20 revenue mix, respectively.
Fresh business of US$180 mn was secured by the company during the quarter, which included three large deals. As a result of this continued deal momentum, the order book executable over the next twelve months has also increased to US$468 mn, representing a growth of 20% YonY.
Incessant Technologies & RuleTek, NIIT Technologies companies, reached a new milestone of 100 Certified Lead System Architects (CLSAs) as part of their global Pega certification program.
About NIIT Technologies
NIIT Technologies is a leading global IT solutions organization servicing customers across the Americas, Europe, Asia and Australia. With a vision of 'Engage with the Emerging' and a strategy of Transform at the Intersect, NIIT Technologies services clients in Travel and Transportation, Banking and Financial services, Insurance, Manufacturing and Media verticals, offering a range of services including Application Development and Maintenance, Infrastructure Management, and Business Process Management. Focused on Digital Services, the Company is helping businesses design agile, scalable and digital operating models. NIIT Technologies adheres to major global benchmarks and standards of quality and Information Security.
For further information, please visit www.niit-tech.com
Certain statements in this release are forward-looking statements. The business involves various risks, and uncertainties that could result in the actual results to differ materially from those indicated here. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
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