Date:29/07/2004 URL: http://www.thehindubusinessline.com/2004/07/29/stories/2004072901500700.htm

Back NIIT Tech net jumps 6-fold

Our Bureau

New Delhi , July 27

NIIT Technologies Ltd has announced a six-fold increase in its net profit for first quarter ended June 30, at Rs 13.4 crore as compared to Rs 2.2 crore in the same period previous year.

During the period, the company's revenues increased 23 per cent to Rs 127.9 crore (Rs 103.7 crore). NTL's operating profit during the quarter was at Rs 22.8 crore, Mr Arvind Thakur, CEO, NIIT Technologies, told a news conference here.

"During this quarter we had a record order intake of $39 million including a significant contract of $20 million in the transportation sector," Mr Thakur added.

The pending order book at the end of the quarter stood at $132 million.

NTL software solution revenue was at Rs 120.7 crore while the business process outsourcing segment contributed to Rs 7.2 crore. Focused verticals - finance, insurance and banking, transport and retail - contributed 63 per cent of the revenues in the quarter.