NEW DELHI: NIIT Technologies has suffered a forex loss of Rs 8.5 crore during the July-September quarter, which pulled down its operating margin to 1 8 per cent from 19 per cent in the same quarter a year ago.
The company which had hedged when Rupee was appreciating, had to suffer the loss as Rupee started depreciating soon after. "Facing in that loss the operating margins fell 81 basis points which otherwise would have been 20.5 per cent," Arvind Thakur CEO NIIT Technologies said. Terming the current financial turmoil as challenging times, he said, the company is likely to see pressure on pricing as the time is not favourable to increase the prices. He added, the company has not yet seen any slowdown in the order booking and is expecting growth of the order-book in the next few quarters. "We see growth in the next few quarters," Thakur said. In the first quarter of the current fiscal NIIT Technologies had an order-book of USD 43 million and in the second quarter it was at USD 75 million. In the last quarter, the company had a forex loss of Rs 4.3 crore. The company had hedged USD 240 million for two years. Shares of NIIT Tech were trading at Rs 75.50, up 2.93 per cent in the afternoon trade on the BSE. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
