NIIT’s profit after tax up 78% YoY, at Rs 26.9cr

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NIIT’s profit after tax up 78% YoY, at Rs 26.9cr

NIIT’s profit after tax up 78% YoY, at Rs. 26.9 crore

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RELATED NEWS NIIT Tech Q2 net up 23.39% to Rs 26.9cr NIIT forays into management courses NIIT Tech ties up with Swiss HR co Adecco NIIT Limited Q1 consolidated results 2006-07 ALSO READ See latest News about NIIT Tech See previous management interviews See what other Experts & Brokerages are saying about NIIT Tech NIIT Tech BSE | NSE 25/05/12 Are Mutual Funds betting on NIIT Tech?

For the quarter ended September 30, 2006, NIIT Technologies Limited, the global IT Solutions Company, has reported consolidated revenues of Rs. 219.9 crore, recording a 49% improvement over revenues recorded in the corresponding quarter in the previous financial year. The IT Solutions business contributed Rs. 206 crore, while the BPO segment contributed the remaining Rs. 13.9 crore.

Of the overall revenues of Rs. 219.9 crore, 50% was contributed by Europe,33% by the Americas and 17% by Asia Pacific, including India.

''Revenues have grown consistently and, now significantly, demonstrating the robustness of our business strategy'', said Mr. Arvind Thakur, CEO, NIIT Technologies Limited.

''Order intake for this quarter was US$ 42 million, the highest since the company was spun off from NIIT Limited, in April 2004'', he added.

Operating Profit recorded a 59% improvement to touch Rs. 41.5 crore. After providing for a depreciation of Rs. 11.2 crore and tax of Rs. 5.2 crore, the company posted a net profit of Rs. 26.9 crore on a consolidated basis, up 78% YoY.

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