NIIT Group posts 417 mn profit

Tuesday, 29 June 2004, 07:00 Hrs
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NEW DELHI: Software and computer education major NIIT Group posted a 417 million profit in the fiscal ended March 31 against a loss of 256 million in the previous year, the company announced Monday.

The group comprises two companies - NIIT Limited, which manages a chain of computer education centres in India and abroad, and NIIT Technologies, a software solutions and services provider.

"The acceleration in rate of growth in both businesses learning and software has led to improved profitability," said NIIT chairman Rajendra Pawar.

The NIIT Group plans to invest 1 billion on expansion, including setting up a university and additional centres for software development and business process outsourcing.

"This does not include any additional capital requirements for inorganic growth opportunities that may present themselves in the future," said a company statement.

Source: IANS
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