NIIT Technologies Limited, the global IT solutions organization, announced its third quarter results for the quarter ended December 31, 2007. Consolidated revenues stood at Rs.233.8 crore, representing a growth of 2% over the last quarter.

Europe continued to provide maximum share of business, representing 49% of total revenues, Americas improved its contribution to 31% and rest of the world contributed 20%. Four new customers were added in Europe this quarter.

Commenting on the third quarter results, Mr. Arvind Thakur, CEO & Joint Managing Director, NIIT Technologies Ltd said, “The company continued to extract efficiencies from operations and notched half percent improvement in operating margins in spite of the appreciating rupee.” He also added, “The quarter experienced an excellent intake of US$59 million of fresh business.” 

The company does business primarily in three industry segments; BFSI contributed 42%, Travel & Transportation 26% and Retail & Manufacturing 12% of the revenues. It is investing in building non-linear business lines where the growth in revenues does not require proportionate increase in head count.

“To mitigate the long term impact of rising costs and strengthening of the rupee, the company has accelerated the pace of transformation towards non-linear business”, said Mr. Rajendra S Pawar, Chairman, NIIT Technologies Ltd. “IP-Asset based services contribute a sizeable 11% of revenues”, he added. In all, 213 people were added during the quarter, taking the total number of people engaged at the end of the quarter to 5002.

Highlights of Q3 ended December 31, 2007

The delivery of services and processes of the company related to Managed Services in the Mumbai and Delhi facilities were certified with ISO 27001 standards and ISO 20000 for IT Services Delivery standards. 

Sourced From: Brodeur India