The Hindu Business Line : Learning biz takes NIIT net up 47%

New Delhi, June 11 IT training firm NIIT Ltd on Wednesday posted a 47-per cent jump in its net profit for the fourth quarter ended March 2008 at Rs 25.2 crore, led by healthy growth at its individual learning solutions business.

NIIT Ltd and its subsidiaries reported global system wide revenue of Rs 382.3 crore, representing a growth of 14 per cent year-on-year; while its Q4 net revenue stood at Rs 272.4 crore.

“The recession in the US may increase the level of outsourcing. Increased outsourcing will create greater interest in students in participating in this,” NIIT CEO, Mr Vijay K Thadani, said.

During the quarter, the individual learning solutions grew 34 per cent year on year to net revenue of Rs 90 crore. The operating margin for the quarter was 22 per cent. The company said that its finance and management training business grew 223 per cent year-on-year to net revenue of Rs 11.2 crore. The school learning solutions recorded net revenue growth of 66 per cent year on year.

For the full year ended March 2008, the consolidated profit after tax surged 32 per cent to Rs 75.6 crore; while the net revenue rose to 27 per cent to Rs 1006.8 crore. During the year, the global system wide revenue rose 26 per cent to Rs 1401.6 crore and the operating profit also grew 34 per cent to Rs 103.6 crore. NIIT board has declared a dividend of 65 per cent to its equity shareholders.

NIIT Technologies posted an 11 per cent dip in net profit to Rs 31 crore for the fourth quarter due to a notional loss of Rs 6.7 crore on account of exchange rate volatility.

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