NIIT Tech Q3 net dips 5.3%

NIIT Technologies on Tuesday reported 5.3 per cent decline in its consolidated net profit at Rs 53.1 crore for the third quarter ended December 31, 2013.
The firm had posted a net profit of Rs 56 crore in the year-ago period. Consolidated revenues rose by 14.2 per cent to Rs 587.3 crore in October-December quarter this fiscal compared to Rs 514.4 crore in the same quarter of 2012-13 fiscal. NIIT Technologies also announced that it secured a $300 million deal with a 10-year period from a US-based client in the BFSI segment.
NIIT Technologies CEO and joint managing director Arvind Thakur said: “Strong growth in western markets, particularly in the US, contributed to the sequential growth in services.”