NIIT Q4 profits up by 70%

BANGALORE: NIIT Ltd. has reported 70 per cent increase in net profits during the fourth quarter ending September 2000 against the corresponding period of 1999. Announcing its annual results, the company has also declared a dividend of 42.5 per cent.

The Q4 net profit touched Rs 90.8 crore. Operating margins (excluding other income) at 48.52 per cent improved from 47.17 per cent recorded in Q4 last year, said a release. Global revenues of NIIT and its subsidiaries for Q4 touched Rs 365.9 crore, an increase of 48 per cent over corresponding revenues of Rs 247 crores aggregated last year.

Order intake for Q4 grew at 103 per cent over the same period last quarter. Mr Pawar said that NIIT profits had recorded strong growth in Q4 as well as FY 1999-2000 over the same period last year.

The US geography emerged as the fastest growing geography at 55 per cent, that contributed 40 per cent of the international revenues. Europe and Asia Pacific geographies grew at 39 per cent and 40 per cent, respectively. While Europe contributed Rs 52.5 crore, Asia Pac revenues stood at Rs 68.4 crore.

"Accelerated growth in Earnings was achieved this year due to a strong order book in software and an aggressive growth initiative in education. The Americas initiative paid rich dividends with accelerating growth and sharper focus on the Internet businesses," said NIIT Chief Executive Officer Vijay K Thadani.

Software business recorded revenues of Rs 151.6 crores, representing a growth of 68.8 per cent (Rs 89.8 crores) over the corresponding period last year. e-Business, Knowledge Management and Client Server Solutions constituted software business, the release said. Education revenues touched Rs 214.3 crore following a growth of 36 per cent.