NIIT Q1 net up 56 per cent

NEW DELHI: NIIT

Technologies Ltd has posted a net profit of Rs 21.8 crore for the first

quarter, up 56 per cent compared to Rs 14 crore posted during the same quarter

last year. During the quarter ended June 30, 2006, the company registered

consolidated revenues of Rs 191 crore, up 40 per cent year-on-year from Rs 136.5

crore. Operating profit was at Rs 36.3 crore, a rise of 41 per cent

year-on-year, and the company posted an EPS of Rs 5.64 for the quarter.






IT solutions contributed Rs 179 crore to the consolidated revenues for the
quarter, making up 94 per cent of the total pie, while the BPM business showed

revenues of Rs 12.1 crore.






Europe continued to provide maximum share of business, representing 46 per cent
of total revenues, while the Americas contributed 34 per cent of overall

revenues during the quarter. The rest of the world contributed 20 per cent of

the revenues.






“We added four significant customers in our areas of focus and expanded business
with a transportation customer through an intake of over US $20 million during

the quarter'', Arvind Thakur, CEO of NIIT Technologies Limited, said.






Leading the growth in the target verticals was the BFSI practice, which grew at
60 per cent YoY. Transportation was next with 38 per cent growth, while retail

and manufacturing saw 20 per cent growth. In a bid to sharpen its

differentiation in the Insurance space, NIIT






Technologies had acquired UK-based insurance solutions provider ROOM Solutions
in May this year, and revenues from that company also began accruing to NIIT

Technologies in the quarter-with effect from May 8, 2006.






''Additional revenues from ROOM Solutions supplemented the healthy 27 per cent
year-on-year organic growth witnessed in the quarter,'' Rajendra S Pawar,

chairman of NIIT Technologies Limited, said. ''The integration process is

progressing as per plan.''






In all, 305 people were added during the quarter, taking the total number of
people engaged at the end of the quarter to 3,848.






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