NIIT Technologies said the company will do better than Nasscom’s projection of 11-14 per cent growth for this year.
“Nasscom has projected 11-14 per cent growth for the whole industry, but we will cross the target (clock 14 per cent) as business is shaping up well and it will be a better year than 2012,” Arvind Thakur, Chief Executive Officer, NIIT Technologies, told reporters here.
The company on Tuesday reported a consolidated net profit of Rs 56 crore for the third quarter ended December 31, 2012, down 12.5 per cent from corresponding period last year. Its net profit during October-December 2011 was Rs 64 crore.
However, the company’s revenue went up 19 per cent to Rs 514 crore during the quarter from Rs 433 crore in the same period previous year.
“Revenues grew 4.4 per cent sequentially in constant currencies during the quarter reflecting the sustained growth momentum of the company," he said.
Operating profit of the company also grew by 4 per cent to Rs 81 crore in the last quarter as against Rs 78 crore in the corresponding period last year.
The company won $83 million of fresh orders during the quarter leading to $242 million order book executable over the next 12 months. It secured four new clients and 265 people were added during the quarter taking the total headcount to 7,882 employees.
He said the company sees spur in the domestic market, as interest rates are softening and there have been some levels of improvement in the economy in the coming year.
As regards global economic environment, he said, “we continue to see turbulence in the macro environment. But, it is gradually getting addressed by different Governments in different parts of the world. Euro Zone has put in place durable mechanism to deal with the issues arising around sovereign debt in that environment.”
Shares of the company closed at Rs 277.35 on the Bombay Stock Exchange, up 0.51 per cent from the previous close.