Niit Software Revenues At Rs 337 Crore In Six Months

NIIT Ltd, the global information technology solutions major which has been rapidly transforming itself into an e-business solutions corporation, has derived revenues of Rs 337 crore from software development, for a six-month period ending March 31, 2000. E-Reveues constituted 35 per cent of the total revenues for the same period.

The company has recently bagged a host of contracts to help major corporations in Gujarat enhance the effectiveness of their operations by leveraging information technology.

NIIT is working with a number of customers in aggressively implementing software solutions and large systems integration projects so as to help exploit the power of IT for gaining competitive advantage.

 

NIIT is implementing a customised enterprise resource planning package at leading fertiliser manufacturer Kribhco's Hazira plant in Surat. Kribhco's systems integration and software development assignment to NIIT includes

creation of an integrated package to align their entire purchase, inventory, manufacturing, finance and transportation functions. On top of all these systems, NIIT would create an executive information system.

The key advantage of this system includes the creation of a decentralised computerised

environment and bringing the power of computing to the desk top of a few hundred users fully connected through robust networks.

NIIT is also creating software solutions for Kribhco's head office at Noida.

For Indian Oil Corporation operations in Baroda, NIIT is implementing two of their biggest software packages to fully automate their materials management and financial management function.

The software for material management package is in the implementation stage. The financial management implementation will follow.

NIIT is due to complete these two projects in the quarter ending June 30, 2000.

NIIT is creating internet strategy and internet solutions for a number of companies like Apollo Hospitals, Vijaya Bank, Glaxo India and UNAIDS.

NIIT has created its own eCommerce products and

solutions - NIITePayServer, a bill presentment software that consolidates bills from different sources and makes a one-stop

link for both buyers and sellers, jointly with US company CheckFree; NIITeMart is a ready-to-use product that helps create a shopping mall on the Web; NIITePortal helps create an entry point on the web for surfers; NIITeService provides a comprehensive solution for integrating citizens into e-governance systems.

NIIT's Story Thus Far

Rs crore Hall year ended

31-3-99 31-3-00

Sales/income 270.75 333.10

from operations

Other income 0.26 7.00

Total expenditure 220.31 263.71

Interest 3.96 0.00

Gross profit 46.74 76.39

Depreciation 13.23 15.60

Taxation 5.00 5.50

Net profit 28.51 55.29