Date:22/01/2005 URL: http://www.thehindubusinessline.com/2005/01/22/stories/2005012202070500.htm

Back NIIT Tech Q3 net up 133%

Our Bureau

Mr Rajendra S. Pawar (left), Chairman, NIIT Group, with Mr Vijay Thadani, CEO, NIIT Ltd, addressing a press conference in the Capital on Friday. - - Kamal Narang

New Delhi , Jan. 21

NIIT Technologies Ltd, the IT solutions company, has reported a 133-per cent rise in its net profit for the third quarter ended December 31, 2004 to Rs 13.3 crore against Rs 5.7 crore in the corresponding period in the previous year.

Its consolidated revenues were up 12 per cent at Rs 141.2 crore during the October-December quarter against Rs 125.6 crore in the year-ago period.

The operating profit for the quarter grew by 60 per cent to Rs 25.1 crore, resulting in an operating margin of 18 per cent, Mr Rajendra S. Pawar, Chairman, NIIT Technologies, said at a conference here on Friday.

The pending order book at the end of the third quarter stood at $145 million of which $67 million is executable over the next 12 months, he said.

Of the total revenues of Rs 141.2 crore, Americas contributed 35 per cent, Europe 42 per cent and the rest of the world 23 per cent. The company hopes that the US would become its largest market, but emphasised that it would maintain a sharp focus on Europe.

NIIT Technologies' BPO subsidiary, NIIT SmartServe, plans to set up an additional facility in Gurgaon, entailing an investment of Rs 7.5 crore. The facility will have a capacity to house 500 people.

The software company is also building an additional 200-people software development centre in Delhi.