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Home STOCKS NIIT Systems Q1 results: PAT down 20.6% at Rs 79.9 crore

NIIT Systems Q1 results: PAT down 20.6% at Rs 79.9 crore

Pune: NIIT Technologies noted a 20.6% drop in profit soon after tax at Rs 79.9 crore for Q1FY21, while revenue was up 9.8% at Rs 1057 crore. The decrease in revenue was attributed to the slowdown in the vacation, transport and hospitality vertical which declined 31.6% quarter on quarter. The corporation also described new bargains really worth $186 million, with three sizeable specials through the quarter.
Excluding the vacation vertical, the rest of the business registered a advancement of 3.2% QoQ in frequent currency terms and 5.1% in documented phrases all through the quarter.
“Our skill to improve all non-journey linked companies sequentially and to also secure many major deal wins even throughout a pandemic-afflicted quarter demonstrates the tenacity of the 11,000 users of Workforce NIIT Systems. The solve of the staff, the sustained offer momentum, ongoing ramp-ups, and the prospect pipeline put together with quite potent operational rigor, gives us the confidence of providing a sequential advancement in the following quarter and a expansion-led overall performance for the total year FY’21,” claimed Sudhir Singh, Main Govt Officer, NIIT Systems.
The order book executable about the up coming twelve months elevated to $465 million, increasing by 18% 12 months on year.

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