NIIT Technologies Q1 net at Rs 35.1 cr

Agencies
Posted: 2008-07-22 15:22:15+05:30 IST
Updated: Jul 22, 2008 at 1522 hrs IST

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IT services provider NIIT Technologies on Tuesday announced a net profit of Rs 35.1 crore for the quarter ended June 30, similar to the same period in FY'08.

However, on the back of revenue from European and other markets the consolidated revenue grew seven per cent to Rs 229.4 crore in the latest quarter, from Rs 245.8 crore in the year-ago period, the company said in a filling to the Bombay Stock Exchange.

The company's maximum revenue share was generated from the European, Middle East and African markets, which garnered 52 per cent share, while the US market contributed 30 per cent.

"Inspite of the challenging macro-economic environment, the company acquired six new customers and a healthy order intake of USD 43 million," NIIT Technologies CEO Arvind Thakur said.

Further, the company would be focusing on improving cost structures and generating business through new non-linear services, he added.

Shares of the company were trading at Rs 106.50, down 1.21 per cent on the BSE.

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NIIT Technologies Q1 net at Rs 35.1 cr

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