Automation, Cost Cuts Led To Margin Expansion In Q2, Says NIIT’s Sudhir Singh
Automation and reduced costs of selling and administration helped NIIT Ltd. post higher margins, said its Chief Executive Officer Sudhir Singh.
“Our margins for the first half of this fiscal has gone up 180 basis points over the same period last year without factoring in currency depreciation,” Singh said in an interaction with BloombergQuint. “The gross margin has gone up significantly because of very intensive automation, AI injection and delivery factory structuring.”
The training service provider’s net profit rose 30 percent sequentially to Rs 111.8 crore in the quarter ended September.
- Revenue rose 10 percent quarter-on-quarter to Rs 825 crore.
- Operating margins expanded 250 basis points to 14.6 percent.
The stock closed 3.6 percent lower today at Rs 73 after the earnings announcement.