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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.
After reporting a consolidated net profit of Rs 26 crore for the fourth quarter of FY12, up 30% from a year ago period, NIIT is hopeful of maintaining its good performance.
Speaking to CNBC-TV18, Vijay Thadani, CEO of the company said the quarter has been fairly decent in terms of volume growth.
In an interview with CNBC-TV18, Rajendra S Pawar, Chairman of NIIT Technology talks about the company's second quarter result. He also outlines the company’s growth trajectory further ahead.
Reporting a rise in revenues of 16% in the first quarter results for FY12, NIIT is looking forward to a better second half backing on new initiatives. “The second half of this year should see an uptick due to the combination of many services that have begun kicking in,” says Rajendra S Pawar, chairman of NIIT.
Emkay Global Financial Services has come out with its earning estimates on IT sector for the quarter ended March 2011. According to the research firm, NIIT quarter sales are expected to go up by 9% at Rs 326.7 crore, quarter-on-quarter, (QoQ) basis.