Centrum Broking: NIIT Technologies Guides For Strong Recovery In Growth
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Centrum Broking: NIIT Technologies Guides For Strong Recovery In Growth

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Centrum Broking Report

NIIT Technologies Ltd. delivered tepid Q1 FY21 with U.S. dollar revenue miss and steep profit after tax miss led by provision for bad debts. However, company cited worst is behind and guided for strong recovery from Q2 FY21.

Management guided that Q2 FY21 constant currency revenues would grow by at least 7% QoQ. Management guided that full year FY21 constant currency revenue would grow mid single digit YoY.

Led by strong commentary, we raise NIIT Technologies U.S. dollar revenue growth assumption to 3.5/16.5% for FY21/FY22E (versus 0.5/12.9% earlier).

NIIT Technologies is poised to show strong momentum in FY22 and could outpace peers by wide margin.

Click on the attachment to read the full report:

Centrum Broking NIIT Technologies Q1FY21 Result Update.pdf

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This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

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