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NIIT
For 1QFY2012, NIIT reported a decent performance, which was in-line with our
expectations. The consolidated revenue came in at `321cr, up 15.5% yoy. Revenue from
ILS, SLS and CLS businesses increased by 15.7%, 5.0% and 18.4% yoy to `177.8cr,
`40.3cr and `163.0cr, respectively. Blended EBITDA margin declined by 75bp yoy to
10.3% due to a 162bp and 472bp yoy margin decline in ILS and SLS businesses to 9.6%
and 12.2%, respectively. However, the CLS segment posted a 102bp yoy increase in its
EBITDA margin to 8.9%. PAT came in at 13.1cr, up 1.1% yoy. We maintain Buy on the
stock with a target price of `69.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
NIIT
For 1QFY2012, NIIT reported a decent performance, which was in-line with our
expectations. The consolidated revenue came in at `321cr, up 15.5% yoy. Revenue from
ILS, SLS and CLS businesses increased by 15.7%, 5.0% and 18.4% yoy to `177.8cr,
`40.3cr and `163.0cr, respectively. Blended EBITDA margin declined by 75bp yoy to
10.3% due to a 162bp and 472bp yoy margin decline in ILS and SLS businesses to 9.6%
and 12.2%, respectively. However, the CLS segment posted a 102bp yoy increase in its
EBITDA margin to 8.9%. PAT came in at 13.1cr, up 1.1% yoy. We maintain Buy on the
stock with a target price of `69.
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