NIIT Tech Net Jumps Six-fold

New Delhi, July 27 | Updated: Jul 28 2004, 05:45am hrs
NIIT Technologies Limited (NTL), a software solutions company recently hived off from NIIT Limited, has posted a net profit of Rs 13.4 crore in the first quarter ending June 2004 as against Rs 2.2 crore in the same quarter last year, a six-fold jump. The companys revenue was up by 23 per cent, at Rs 127.9 crore in the first quarter this year compared to Rs 103.7 crore in the same quarter last year.

The earning per share for the quarter ended June 2004 was recorded at Rs 3.4. We are looking at maintaining a growth rate at around 23 per cent for the entire year based on the first quarter result, NIIT Technologies chief executive officer Arvind Thakur said.

NIIT Technologies software solutions revenue was recorded at Rs 120.7 crore while the BPO business contributed Rs 7.2 crore to the companys revenue. Of the overall revenue, Europe contributed 45 per cent, followed by Americas that contributed 37 per cent and Asia Pacific including India accounted for 18 per cent.

During the quarter, we had a record order intake of $39 million including a significant contract of $20 million in the transportation sector, Mr Thakur said. He did not disclose the name of the company but said that the company based in the US.

In the last quarter, the company opened its development centre in Kolkata with 300 seats for customers in Europe and Asia Pacific region.