Global revenues buoy NIIT net 97%

CORPORATE SCORECARD

The strategic and inorganic initiatives of NIIT led to its revenues rising 114 per cent to Rs 297 crore for the December 2006 quarter.

The company's net profit too went up 97 per cent to Rs 10.7 crore in the December 2006 quarter compared with Rs 5.5 crore in the last year's corresponding period.

The company's global system-wide revenues stood at Rs 297 crore, representing a 111 per cent increase compared with Rs 140.8 crore last year. Earnings per share rose to Rs 5.50 for the December 2006 quarter.

"International revenues contributed 64 per cent of the global system-wide revenues and India contributed the rest. Revenues form China operations grew by 38 per cent year-on-year," pointed out Vijay Thadani, chief executive officer, NIIT.

He added the educational plan of NIIT was well accepted by China. The company added 10 new customers with a fresh order intake of $10.8 million during the last quarter. It also added 18 new employees during the quarter by taking the workforce to 3,146.

NIIT President G Raghavan added: "Looking at the robust growth of the company, we will be starting three new programmes for storage, gaming software and security for the newly enrolled students."

During the last quarter, NIIT partnered with the Department of income tax to help create a pool of skilled tax return prepares. As part of the agreement, the company tested over 47,500 graduates across 100 locations.

NIIT also partnered with the government of Egypt to build a pool of skilled information and communication technology professionals in the African country, Thadani added.