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NIIT Q2 operating profit up 233%

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CIOL Bureau
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BANGALORE: India's largest IT training company, NIIT Limited and its subsidiaries have reported consolidated operating profit of Rs 14 crore, up 233 percent over Rs 4.2 crore reported in the same quarter last year.



Consolidated profit after tax (PAT) from learning business grew to Rs 11.8 crores compared to a loss of Rs 6.7 crores in the same period last year. Global System-wide revenues of Rs 186 crores represent a 22 percent increase over the revenue reported in the quarter ending June 2004.



Vijay K. Thadani, Chief Executive Officer, NIIT Limited said, "The wide acceptance of industry-endorsed GNIIT curriculum worldwide, contributed significantly to improved financials this quarter."



The net profit in the first 6 months of this year has already surpassed that of the full year in the last 12-month fiscal.



During the quarter, NIIT also launched National IT Aptitude Test to help the country meet the large and growing manpower needs of the IT/ITES industries. NIIT's first-ever assessment test to ascertain IT aptitude evoked response with 65,746 candidates appearing in this test nationally. Of these, NIIT hopes to encourage and nurture the top few thousand to join the IT industry.



NIIT Chief Operating Officer, P Rajendran said, "Stronger institutional relationships in the USA and India contributed to a fresh order intake of Rs 80 crore representing a 52 percent QoQ growth."



As the Top 101 Indian Superbrands, NIIT has been included by America's IDC as the 16th largest global IT training provider.

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