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Wednesday, Jul 28, 2004

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NIIT net profit rises 12-fold

Our Bureau

New Delhi , July 27

DRIVEN by growth in enrolments and higher international revenues, NIIT Ltd on Tuesday reported a 12-fold increase in its net profit for the quarter ended June, 2004 at Rs 7.5 crore compared to Rs 0.6 crore in the same period previous year.

Its global system-wide revenues rose 10 per cent during the period in reference, to Rs 152 crore over the year-ago period.

The net revenue from the learning business also grew 10 per cent to Rs 96.8 crore during the first quarter ended June, 2004, compared to Rs 88.4 crore notched in the corresponding period previous year, Mr Vijay Thadani, CEO, NIIT, said at a news conference here.

"While the net profit of Rs 7.5 crore is a direct impact of the learning business, there is also benefit of our 25 per cent holding in NIIT Technologies Ltd, which takes this figure to Rs 10.9 crore," he said.

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