NIIT Tech's Q1 profit up 61 percent

NIIT Tech's Q1 profit up 61 percent

Monday, 30 July 2007, 07:00 Hrs
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New Delhi: Global IT solutions major NIIT Technologies Ltd. Friday registered a robust net profit of 351 million against last year's 218 million, up by 61 percent in the first quarter of the current fiscal (2007-08).

The Delhi-based firm's consolidated revenues stood at 2.29 billion, an increase of 20 percent compared to 1.91 billion in the first quarter of 2006-07.

Europe continued to provide maximum share of the business, representing 52 percent of the total revenues, while the Americas contributed 31 percent of overall revenues during the quarter. The rest of the world contributed 17 percent of the revenues.

"We added six significant customers leading to a fresh order intake of $40 million. The pending order book executable over the next 12 months stands at $105 million," said Arvind Thakur, CEO and joint managing director, NIIT Tech.

During the quarter, the company recruited 106 new professionals taking the total headcount strength to 4,554.
Source: IANS
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