NIIT Technologies has declared third interim dividend of ₹11 per equity share for the financial year 2019-20
NIIT Tech's board also approved the change of name of the Company from ‘NIIT Technologies Limited’ to ‘Coforge Limited’
Shares of NIIT Technologies today surged as much as 18% to ₹1395, a day after the IT company announced its Q4 earnings. NIIT Tech had announced its earnings after market hours on Tuesday. Net profit rose 7.7% to ₹113.6 crore year on year. The company’s revenue during the quarter rose 19% year on year to ₹1,109 crore.
NIIT Technologies reported operating margins of 17.8% during the quarter, down 31 bps QoQ but up 22 bps YoY.
Digital revenue stood at 38% of the overall mix during the quarter.
"The firm recorded one of its best annual performances ever in FY'20, which has come on the back of a similarly strong performance delivered in the preceding year. A differentiated strategy, strong tech capabilities, and sharp execution enabled us to deliver sustained large deal wins and an industry-leading growth for the fourth quarter of FY'20, overcoming unprecedented COVID-19 headwinds," said Sudhir Singh, Chief Executive Officer, NIIT Technologies Ltd.
NIIT Technologies has declared third interim dividend of ₹11 per equity share for the financial year 2019-20. The payment of interim dividend would be done within 30 days from the declaration of dividend, the company said.
NIIT Tech's board also approved the change of name of the Company from ‘NIIT Technologies Limited’ to ‘Coforge Limited’, subject to shareholders approval and other necessary approvals, if any. "The name availability is granted by the office of Registrar of Companies, Ministry of Corporate Affairs, Government of India vide its letter dated April 27, 2020," NIIT Tech said.
Digital revenue stood at 38% of the overall mix during the quarter.
"The firm recorded one of its best annual performances ever in FY'20, which has come on the back of a similarly strong performance delivered in the preceding year. A differentiated strategy, strong tech capabilities, and sharp execution enabled us to deliver sustained large deal wins and an industry-leading growth for the fourth quarter of FY'20, overcoming unprecedented COVID-19 headwinds," said Sudhir Singh, Chief Executive Officer, NIIT Technologies Ltd.
NIIT Technologies has declared third interim dividend of ₹11 per equity share for the financial year 2019-20. The payment of interim dividend would be done within 30 days from the declaration of dividend, the company said.
NIIT Tech's board also approved the change of name of the Company from ‘NIIT Technologies Limited’ to ‘Coforge Limited’, subject to shareholders approval and other necessary approvals, if any. "The name availability is granted by the office of Registrar of Companies, Ministry of Corporate Affairs, Government of India vide its letter dated April 27, 2020," NIIT Tech said.