The Hindu Business Line : NIIT net rises 4-fold in Q4

NIIT Ltd on Friday reported a significant rise in its consolidated net profit for the fourth quarter ended March 31, 2005, at Rs 8.2 crore against Rs 1.9 crore in the corresponding period previous year.

During the quarter, the global system wide revenues of the company grew 12 per cent to Rs 165.6 crore against Rs 147.9 crore in the year-ago period, Mr Rajendra S. Pawar, Chairman of NIIT Ltd, said at a news conference.

The operating margin improved to 12 per cent during the quarter. A fresh order intake of Rs 41.99 crore during the January-March 2005 quarter helped the pending order book for international business grow to Rs 80.92 crore as on March 2005. A number of institutional orders, including one from the Meghalaya Government shored up the pending order book from domestic institutional clients to Rs 157.5 crore.

For the year ended March 31, 2005, the profit after tax (PAT) went up by 88 per cent to Rs 35.6 crore from Rs 18.9 crore during the previous year. The global system wide revenues of NIIT Ltd and its subsidiaries grew 11 per cent to Rs 636.3 crore. The revenues stood at Rs 574.9 crore during the year ended March 31, 2004.

The board of directors has recommended an enhanced dividend of Rs 5.50 for every equity share of Rs 10 each.

NIIT Ltd's international business contributed to 53 per cent of its annual revenues at Rs 334.8 crore, while the remaining Rs 301.5 crore was from its domestic business. In India, Rs 167.5 crore of the business came from individuals, while the order book of the institutional business contributed the remaining Rs 139.9 crore. The company saw a 21.7 per cent growth from career and high-end programs, he said, adding that NIIT's education business in China recorded a 20 per cent growth.

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