New Delhi, Jan 23 : NIIT has reported a 61 per cent increase in its profit after tax to Rs 29.8 crore for the first quarter ending December 31, 2000. The company earned Rs 18.52 crore of profit after tax for the corresponding quarter of previous financial year. The global revenues of the company has gone up by 45 per cent to Rs 303 crore in the first quarter as compared to Rs 208.9 crore of the first quarter of previous year. The software business of NIIT has gone up by 54 per cent to Rs 170.57 crore this quarter and the training business moved up by 35 per cent to Rs 132.44 crore this year.The software business of NIIT contributed 56 per cent of the total revenue and the rest has come from learning business this quarter. According to Mr VK Thadani, chief executive officer of NIIT, the company is expected to have marginally more contribution from software business in its total revenue this financial year as compared to previous year.
The operating margins of the company has also gone up to 23.32 per cent this quarter as compared to 20.58 per cent of the same quarter previous year, representing an improvement of 274 points, said Mr Thadani.
"Our focus on portfolio management as well as growth in international markets led to improvement in operating margins. We have also de-emphasised some of the low-margin businesses like system integration and geographies like middle east, " he said. Mr Thadani does not see any adverse impact of the slowdown in US economy on the company's business, but considers it an opportunity, since it will increase outsourcing.
The company claimed it has earned 31 more customers in the last quarter, including Veriprise, IBM Lifesciences and Unilever Singapore.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
