New Delhi, Jan. 24: NIIT’s net profit grew by 54.28 per cent in the first quarter of the current financial year 2002-03 over the same period last year.

The company reported a net profit of Rs 5.4 crore as against Rs 3.5 crore in the corresponding quarter last year.

The company reported a net revenue of Rs 80 crore during the first quarter of 2002-03 as against Rs 79.3 crore for the quarter ended December 31, 2001. The operating profit of the company stood at Rs 12.1 crore in the first quarter reflecting a 36 per cent increase.

NIIT Ltd Global Systems’ revenue for the first quarter rose 12 per cent year-on-year while the revenue from IT services stood at Rs 110.8 crore registering a 21 per cent increase. NIIT’s education generated a revenue of Rs 81.6 crore, up by 10 per cent.

Ashok Leyland Q3 net up 72%

Leading commercial vehicle maker Ashok Leyland said today its net profit has surged by 72.31 per cent to Rs 23.28 crore for the quarter ended December 2002 from Rs 13.51 crore in the same period last year.

Net sales went up by 24.77 per cent to Rs 659.69 crore during October-December 2002 from Rs 528.69 crore a year ago.

For the first nine months this fiscal, net profit soared by 138.15 per cent to Rs 53.87 crore from Rs 22.62 crore a year earlier.

Net sales rose by 16 per cent to Rs 2,027.61 crore during April-December 2002 from Rs 1,749.19 crore in the same period last fiscal, a company statement said here.

The Hinduja group flagship said its vehicle sales grew by 26.7 per cent to 7,776 units during the period under review from 6,134 units in October-December 2001.

Indo Gulf net at Rs 105.55 cr

Indo Gulf Corporation Ltd has posted a 20 per cent rise in net profit at Rs 105.55 crore for the third quarter ended December 31, 2002, compared with Rs 88.17 crore in the same period last fiscal.

Net sales in the period under review rose by 12 per cent at Rs 854.68 crore as against Rs 765.11 crore in December 2001 quarter, a company release said here today.

Exports in the reporting quarter were up by 100 per cent at Rs 182 crore.

For the nine months ended December 2002, net profit saw an increase of 29 per cent at Rs 276.77 crore (Rs 214.88 crore) while net sales recorded a rise 16 per cent at Rs 2,362.89 crore (Rs 2,040.01 crore).