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News >> Technology >>
NIIT Tech net up 77% on higher offshoring
By agencies
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Wednesday, 08 June 2005, 19:30 IST
NEW DELHI: NIIT Technologies has announced a 77 percent jump in net profit on a topline growth of 12 percent in its first year of independent operations after being spun off from NIIT. The company has also declared a dividend of Rs 5.5 per share for its shareholders for fiscal 05.
Consolidated revenues during the year stood at Rs 5.43 billion. IT solutions contributed 
5. 09 billion while the BPO business contributed Rs 339 million.
An increase in offshore business helped us increase profitability and our operating margins have grown to 18 percent, said Rajendra S Pawar, chairman, NIIT Technologies. In the first year of independent operations, we have consistently improved operating margin at 18 percent in all four quarters.
In this business, we chose to focus on three industry verticals financial services, transportation and retail which together grew by 30 percent during the year, said company CEO Arvind Thakur.
The three verticals contributed 62 percent to the overall business, up from 54 percent last year. The company focused sharply on under-penetrated regions. Europe contributed 43 percent of the revenues, followed by the U.S. (35 percent), Asia-Pacific (12 percent) and India (10 percent).
NIIT Technologies reported revenues of Rs 1.37 billion and PAT of Rs 169 billion for the fourth quarter ended March 05. A fresh order intake of $37 million in the last quarter led to a pending order book of $151 million.
This included a multi-million dollar engagement involving the consolidation of managed SAP Data services for all the plants in the Asia-Pacific region of Holcim. NIIT had spun off its software solutions business into a separate company called NIIT Technologies.
NIIT focuses on the education business. The shares of NIIT Technologies, after de-merger from NIIT, were listed on the Bombay Stock Exchange and the National Stock Exchange in August last year.
5. 09 billion while the BPO business contributed Rs 339 million.
An increase in offshore business helped us increase profitability and our operating margins have grown to 18 percent, said Rajendra S Pawar, chairman, NIIT Technologies. In the first year of independent operations, we have consistently improved operating margin at 18 percent in all four quarters.
In this business, we chose to focus on three industry verticals financial services, transportation and retail which together grew by 30 percent during the year, said company CEO Arvind Thakur.
The three verticals contributed 62 percent to the overall business, up from 54 percent last year. The company focused sharply on under-penetrated regions. Europe contributed 43 percent of the revenues, followed by the U.S. (35 percent), Asia-Pacific (12 percent) and India (10 percent).
NIIT Technologies reported revenues of Rs 1.37 billion and PAT of Rs 169 billion for the fourth quarter ended March 05. A fresh order intake of $37 million in the last quarter led to a pending order book of $151 million.
This included a multi-million dollar engagement involving the consolidation of managed SAP Data services for all the plants in the Asia-Pacific region of Holcim. NIIT had spun off its software solutions business into a separate company called NIIT Technologies.
NIIT focuses on the education business. The shares of NIIT Technologies, after de-merger from NIIT, were listed on the Bombay Stock Exchange and the National Stock Exchange in August last year.