Q3 Results: NIIT Technologies Confident Of Maintaining Margin Amid Higher Hiring Costs
NIIT Technologies Ltd. is confident of maintaining its margin levels even as it sees hiring cost pressures, according to Chief Executive Officer Sudhir Singh.
“Hiring costs have continued to rise. However, we believe that we can sustain margin levels of 18 percent or more on a yearly basis and continue to deliver it,” Singh told BloombergQuint in an interaction.
Key Earnings Highlights (Q3, YoY):
- Revenue up 7 percent at Rs 972 crore.
- Net profit down 10.7 percent at Rs 100 crore.
- EBIT up 13.5 percent at Rs 150 crore.
- EBIT margin at 15.4 percent versus 14.6 percent.
Shares of NIIT Technologies fluctuated between gains and losses before finally ending marginally lower at Rs 1,222. That compared with 0.46 percent advance on the NSE Nifty IT Index.
Watch the full interaction here: