The Hindu Business Line : NIIT Tech net up 50 pc in Q2

NIIT Technologies Ltd today reported a 50 per cent jump in net profit for the second quarter ended September 2004 to Rs 15.2 crore against Rs 10.1 crore in the year-ago period, on the back of revenue growth and improvement in productivity and capacity utilisation.

The company's revenues were up 14 per cent at Rs 137 crore during the quarter against Rs 120.4 crore notched in the corresponding period previous year.

"We added six new customers in the quarter and an order intake of $38 million, including $10 million plus repeat business from a key customer in the transportation sector. The pending order book at the end of the second quarter stood at $141 million, of which $64 million is executable over the next 12 months," Mr Rajendra S. Pawar, Chairman of NIIT Technologies Ltd, told presspersons.

The company also plans to double BPO capacity by the end of the current fiscal. NIIT Technologies expects to maintain a seven per cent quarter-on-quarter growth rate in top line in the third quarter.

NIIT Ltd has posted a net profit of Rs 11.8 crore in the quarter ended September 2004 compared to a loss of Rs 6.7 crore in the year-ago period. Its revenues have increased 10 per cent to Rs 186 crore (Rs 169.1 crore).

On the third quarter, Mr Vijay K Thadani, Chief Executive Officer of NIIT Ltd, said compared year-on-year, there will be about 10 per cent growth.

More Stories on : Financial Performance | Software

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Ivy Comptech mulls $2.5-m expansion

LG says HFCL not eligible for BSNL's CDMA tender

Tata Indicom rebrands fixed wireless as `Walky'

HSBC offloads 6.1 pc in SSI

Ramco Systems posts profit

NIIT Tech net up 50 pc in Q2

Sonata to pay 30 pc interim

Dakshina Kannada to host `Students Internet World'

Satyam setting up centre in Hungary