The Telegraph
Since 1st March, 1999
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NIIT Q3 net at Rs 3.4 crore

New Delhi, July 17: NIIT has registered a net profit of Rs 3.4 crore during the third quarter of the financial year ending September 2003 and a 20 per cent jump in its operating profit at Rs. 22.3 crore on a year-on-year basis. The global system-wide revenues grew by 19 per cent on a year-on-year basis at Rs 230.6 crore while revenues from IT services grew by 33 per cent at Rs 127.9 crore.

System-wide training revenues grew by 8 per cent at Rs 99.6 crore while its global software business grew by 30 per cent at Rs 131 crore and 4 per cent quarter-on-quarter basis.

NIIT Technologies’ pending order book grew to $ 118 million during the third quarter of 2002-03 as against $ 108 million during the same period last year.

The global learning business contributed system-wide revenues of Rs 99.6 crore, up by 8 per cent on year-on-year basis.

NIIT’s international business contributed 71 per cent at Rs 164.3 crore of its third quarter revenues while 29 per cent (Rs 66.3 crore) came from the India geography.

A 20 per cent year-on-year growth in the consolidated operating profit at Rs 22.3 crore during the third quarter resulted in an operating margin of 12 per cent.

Vijay K. Thadani, CEO of NIIT, said, “After making a series of software acquisitions, we are now integrating and aligning their go-to-market strategies with NIIT Technologies. We are in line with the year-on-year industry growth at 7 per cent per quarter. We suffered loss in the first quarter, posted profit in the second and repeated in the third quarter. The fourth quarter will be decided by education and software segments,” he said.

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