NIIT Technologies Ltd
Andhra Pradesh ~ India ~ International ~ City ~ Entertainment ~ Business ~ Sports ~ Technology ~ Health ~ Features
2010 Commonwealth Games ~ 2010 Nobel Prizes ~ Sachin Tendulkar ~ Rajasthan Royals ~ Kings XI Punjab ~ Sushil Kumar ~ Deepika Kumari ~ Somdev Devvarman ~ HR Bhardwaj
Home / India News / 2007 / January / January 17, 2007
NIIT Technologies Ltd. Q3 Consolidated Quarter Results- Profit After Tax up 92 % YoY, at Rs. 34.6 crore

Top News

144 Section in Hyderabad ahead of Ayodhya verdict

Manmohan Singh to campaign in Bihar today

FBI failed to act on Headley's wife's terror link expose 3 yrs before Mumbai attacks

Craven's horror flicks 'were inspired by real stories'

RBI will intervene if inflows turn lumpy: Subbarao

Enforcement Directorate issues 'Look Out Circular' against Lalit Modi

Now, laser technology that destroys tumours using heat

Waist size, not BMI can foretell cardiovascular risk in children

NIIT Technologies Ltd. Q3 Consolidated Quarter Results- Profit After Tax up 92 % YoY, at Rs. 34.6 crore

New Delhi, Delhi, India

For the quarter ended December 31, 2006, NIIT Technologies Limited, the global IT Solutions Company, has reported consolidated revenues of Rs. 231.5 crore, recording a 47% improvement over revenues recorded in the corresponding quarter in the previous financial year. The IT Solutions business contributed 94% of the revenues at Rs.217.3 crore, while the BPO segment contributed the remaining 6% of the revenues at Rs.14.2 crore.

Of the overall revenues of Rs. 231.5 crore, 50% was contributed by Europe, 33% by the Americas and 17% by Asia Pacific, including India. The revenues from the chosen verticals-BFSI, Transportation & Travel, Retail and Manufacturing--grew to 81% of the consolidated revenues.

"NIIT Technologies consolidated net profit nearly doubled to Rs. 34.6 crore during the quarter on the back of a robust 47% revenue growth YoY," said Mr. Arvind Thakur, Chief Executive Officer, NIIT Technologies Limited.

"Integration of ROOM Solutions is now complete, contributing to the operating margin expansion to 21%," Mr. Thakur added.

Operating Profit at Rs 49.1 crore is an improvement of 61% over the corresponding quarter last year. After providing for a depreciation of Rs. 10.5 crore and tax of Rs. 6.8 crore, the company posted a net profit of Rs. 34.6 crore on a consolidated basis, up 92% YoY.

Record fresh order intake

Five new significant customers were added during the quarter. The company posted a record fresh order intake of US$ 56 million during the quarter leading to an order book executable over the next 12 months of US$ 95 million.

"An 87% growth in Financial Services and a 50% growth in Transportation is a result of the sharp focus on these industry segments, said Mr. Rajendra S. Pawar, Chairman, NIIT Technologies Limited.

"Focus has created a differentiation to scale and the best cost structure among the mid-sized service providers," Mr. Pawar added.

The total number of people engaged in the company, at the end of the quarter, were 4199.

About NIIT Technologies

NIIT Technologies is a leading IT Solutions organization, servicing customers in North America, Europe, Japan, Asia and Australia. It offers services in Application Development and Maintenance, Enterprise Solutions including managed services and Business Process Management to organizations in the Financial Services, Transportation, Government, Retail, Manufacturing and Government sectors.

NIIT Technologies follows global standards of development, including an ISO 9001:2000 certification, assessment at Level 5 of both SEI-CMMi and People-CMM frameworks and BS 7799 information security management certification. NIIT Technologies' Thailand operations are assessed at the international BS15000 IT management standards.

NIIT Technologies acquired ROOM Solutions in May 2006. Room is focused on the commercial insurance market including IT solutions to the customers of Lloyd's, the largest reinsurance market in the UK. ROOM Solutions strengthens NIIT Technologies' insurance capability by bringing in deep domain expertise in the Commercial Insurance space.

NIIT Technologies is ranked among the Top 20 Best Employers in a Dataquest-IDC Best Employer Survey.

NIIT Technologies' subsidiaries, NIIT SmartServe Limited and NIIT GIS Limited, offer Business Process Management and GIS Solutions, respectively.

To view the press release along with the tables please click on the links below:

Press Release

Financial Tables

Gaurav Sood, Corporate Communications, NIIT Technologies, +91 (011) 26203069/ +91 98113 55662 gaurav.sood@niit-tech.com

Gurpreet Singh, Investor Relations, NIIT Technologies, +91 (011) 26203192/ +91 98111 02582 gurpreet.gsingh@niit-tech.com

Source: NIIT Technologies (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

India News / Press Releases on January 17, 2007

Outsource Partners International Achieves SAS 70 Type II Audit
Business Wire India

CREDAI to Organise its 'Second National Exhibition of Developers and Housing Finance Institutions' at New Delhi
Business Wire India

Increasing Complexity of Electronic Products Drives Innovations in the Power Management IC Domain
Business Wire India

The SMT Software Market Poised To Capitalize On Potential Opportunities
Business Wire India

Biting the Dust - Is Lipicard's Niastin® Next After Pfizer's Torcetrapib?
Business Wire India

NIIT Technologies Ltd. Q3 Consolidated Quarter Results- Profit After Tax up 92 % YoY, at Rs. 34.6 crore
Business Wire India

Kingfisher Airlines Launches Direct Flights Between Bangalore and Thiruvananthapuram
Business Wire India

Sify to Report Third Quarter 2006 Fiscal Year Financial Results on Monday, January 22, 2007
Business Wire India

eTaxBay Announces US Tax Management Portal for NRIs
Business Wire India

Also see International News / Press Releases on January 17, 2007

Suggested pages for your additional reading
AndhraNews.net on Facebook






© 2000-2017 AndhraNews.net. All Rights Reserved and are of their respective owners.
Disclaimer, Terms of Service & Privacy Policy | Contact Us