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Our Bureau

New Delhi, July 24

NIIT Ltd on Thursday posted a 10 per cent year-on-year rise in its consolidated net profit for the first quarter ended June 2008 to Rs 17 crore, on the back of strong enrolments and large orders.

The net revenue at Rs 259.5 crore, represented a 15 per cent increase over the year-ago quarter. The operating profit rose 29 per cent to Rs 18.7 crore. NIIT’s profit after tax (PAT) stood at Rs 17 crore against Rs 15.4 crore during the corresponding period previous year.

Its global system-wide revenue grew 25 per cent to Rs 366.4 crore during the quarter.

Overall, the Individual Learning Solutions enrolments crossed the 1,00,000-mark during the quarter. The individual learning solutions in IT recorded growth in net revenue of 34 per year-on-year backed by 28 per cent growth in global career enrolments.

During the quarter, NIIT expanded presence in key global markets, including China and Africa.

Closer home, the India career enrolments jumped 25 per cent driven by strong response from the graduates and engineers segments. In the domestic market, NIIT added 12 new centres in the quarter and expanded seat capacity by 15 per cent over the previous year.

In China, the company set up model training facilities in Tiandi Software Park in Dalian, and started its model learning centre in Chongqing. This took the overall tally of NIIT centres in China to 177 across 24 provinces.

Its Finance & Management Training (FMT) recorded 104 per cent growth in net revenue, as the business in this segment extended its reach to 22 locations across the country, by setting up new learning facilities in Jamshedpur, Ludhiana and Jaipur.

School Learning Solutions showed robust growth of 42 per cent in net revenue driven by strong demand for its solutions from Government and private schools.

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