Vijay Thadani, CEO, NIIT says they are downsizing the government part of their school business but private school business is growing. The non-government business is now 59 percent versus 51 percent earlier.
NIIT Technologies first quarter net profit fell by 6 percent quarter-on-quarter. Rajendra S Pawar, Chairman, NIIT expects second quarter revenues to improve.
Even though revenues have dropped, Vijay Thadani, CEO of NIIT says three out of four businesses have done exceptionally well.
Vijay Thadani, CEO, NIIT explains to CNBC-TV18 that the though the company performed well on a fundamental basis, it has been adversely affected by the slowdown in the hiring process in the IT sector.