NIIT posts Q1 revenues of Rs 110.2 cr

NEW DELHI:

NIIT Ltd has reported net consolidated revenues of Rs 110.2 crore for the

first quarter ended June 30, 2007, as compared to Rs 106.4 crore in the

corresponding period last financial year.






The company's global systemwide revenues stood at Rs 163.7 crore, as compared to
Rs 156.6 crore in Q1 of 2005-06. The company's net profit stood at Rs 13.2 crore

during the quarter led to a basic earning per share of Rs 6.8.






CEO of NIIT Vijay Thadani said that this growth is in line with NIIT's defined
strategy of reprioritizing of business lines. While the company's individual

business recorded a 33 per cent year on year revenue growth during the April to

June quarter, the corporate business accelerated to a 17 per cent YoY.






The order intake for the corporate business during the quarter was $15.5
million. This includes a multi-million dollar contract from a large technology

company.






NIIT has identified three new areas of growth in the rapidly emerging services
sector. The first of these is setting up of the Institute for Finance, Banking

and



Insurance (IFBI) to prepare professionals, both at the entry level as well

as in-service training for experienced professionals, for the fast growing BFSI

industry. The second is NIIT Imperia, Centers for Advanced Learning, that will

offer advanced training programs in executive management and technology

education in association with prestigious institutions using synchronous

learning technology.






The third business, NIIT Litmus, will offer assessment and testing services for
recruitment and proficiency testing initially focusing on the BPO and IT space.






The company is planning to invest around Rs 17 crore this financial year in
these three businesses.






Commenting on the future outlook of the company Thadani said, “Based on the
improvement






in leading indicators of its performance in the year's first quarter, NIIT is
well on track to achieve higher revenue growth than the last financial year

coupled with improved profitability.”

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