NIIT Q1 net up 6% at 140 M

By agencies   |   Wednesday, 27 July 2005, 07:00 Hrs
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MUMBAI: Software services firm NIIT Technologies Ltd. (NTL) said its first quarter net profit rose 6 percent from a year earlier to 140 million

It said consolidated revenues rose 7 percent to Rs1.37 billion.

It said it added six new international clients in the April-June quarter and the pending order book executable over the next 12 months is $75 million.

The New Delhi-based firm said its information technology solutions business contributed Rs 1.27 billion of revenues and the back office operations made up the rest.

“The growth is owing to our strategy of focusing and differentiating and also due to deepening connects with existing customers;” said Rajendra Pawar, Chairman of NIIT Technologies.

Going forward, NTL expects 7-8 percent quarter on quarter growth in revenues. It said that bottom line was also improving.

The IT solutions business contributed 1.27 billion while the BPO contributed the remaining 93 million. Operating profits at 257 million grew 13 percent over the corresponding quarter last year.

"Consistent with our approach of better aligning our offerings to select industry verticals, we achieved an expanded operating margin of 19 percent, resulting in an improvement of 102 basis points. Revenues from focused verticals - financial services, transport and retail improved to 68 percent of the total revenues in the quarter," Arvind Thakur, Chief Executive Officer, said. Of the overall revenues of Rs 1.36 billion, 44 percent was contributed by Europe, 40 percent by the Americas and 16 percent by Asia Pacific, including India.

The company added six new international customers during the quarter including a budget airline in the BPO space. The fresh order intake during the quarter stood at $32 million. The pending order book executable over the next 12 months stands at $75 million.

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