NIIT, leading IT training and software company, is on a revival path having continuously posted improvement in revenues and operating profit for three consecutive quarters.
The company is expected to post fourth quarter results for September 30 later this week.
NIIT's revenue growth over the last three quarters showed an improvement quarter on quarter. Both software and learning revenues have seen an improvement in the past three quarters.
Analysts expect the same quarter on quarter upward trend to continue in the fourth quarter as well, particularly in view of the improvement in sentiment for IT in foreign markets.
Its fourth quarter revenues for the education business are the highest in the year due to a surge in fresh enrollments to coincide with the college admission seasons.
NIIT has aggressively brought out new product offering at new price points in the education segment in the last three quarters. Its Bhavishya Jyoti Scholarship also reportedly got exceptional response from students.
The order intake for software business has also grown steadily over the last three quarters ending on June 30.
It had posted a steady increase in the order book from $18 million in Q1 to $29 million in Q2 and $33 million in Q3 ending on June 30. Its SmartServe has just bagged a $10 million order from Misys of UK.
The company made four strategic acquisitions last year. The acquisitions compliment its identified technologies and verticals like knowledge solution, finance insurance and banking.
For the nine-month period ending on June 30 last, NIIT posted global revenues of Rs 556 crore (Rs 5.56 billion) against Rs 891 crore (Rs 8.91 billion) posted in the corresponding period last year.
While analysts expect an improvement in Q4, NIIT's annual results could show a drop of around 30 per cent over its revenue of Rs 1137 crore (Rs 11.37 billion) posted in the ficsal ended on September 30, 2001.
NIIT posted an operating profit of Rs 35.9 crore (Rs 359 million) and an earning before tax of Rs 14.8 crore (Rs 148 million) in the first nine-month period ended on June 30 last.
In the first nine months, NIIT added Rs 36 crore (Rs 360 million) of cash from operations to the balance sheet. Analysts expect the total cash from operations to be added to the balance sheet for the full year to be still higher.
Source: UNI
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