NIIT Technologies on Friday said the company will hire 800 people this financial year and invest Rs 100 crore in expansion of its Noida campus. The company has added 276 people during January-March, taking the total headcount to 8,158.
The company said it has Rs 332 crore in cash and will use it for mergers and acquisitions, especially in the Western world, as and when required, Arvind Thakur, Chief Executive Officer, NIIT Technologies, told reporters here.
“The US market is recovering and we have some big clients there. However, Europe is still a concern as there is low gross domestic growth as compared with last year,” he said.
Meanwhile, the company reported a consolidated net profit of Rs 57 crore for the fourth quarter ended March 31, up 22.4 per cent from the corresponding period last year.
The company's net profit during the January-March quarter in 2012 was Rs 46 crore. Consolidated revenue for the fourth quarter this year also rose by 21 per cent year-on-year to Rs 537 crore, as compared with Rs 443 crore during the same quarter of the previous year.
The board recommended Rs 8.5 per equity share as dividend for the year.
For the year ended March 31, the company’s net profit stood at Rs 213 crore as compared to Rs 197 crore in the last financial year. Consolidated revenue also grew by 28 per cent to Rs 2,021 crore during the year against Rs 1,576 crore in the previous year.
“We experienced sequential growth in each quarter of the year, driven by all-round expansion in revenues across all geographies and industry segments of focus over the previous year,” Thakur said.
The travel and transport segment showed the maximum traction with 38 per cent growth and contributed to 40 per cent of total revenues. Other segments such as BFSI, manufacturing and government contributed 32 per cent, 7 per cent and 8 per cent of the revenue mix respectively.
The company got fresh orders worth $110 million (Rs 605 crore) during the quarter. For the whole year, it got orders worth $252 million (Rs 1,386 crore), to be executed over the next one year.