NIIT Technology net up 28% at Rs 34.4 cr

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New Delhi, Oct 25 (UNI) NIIT Technologies Ltd today said it has registered 28 per cent increase in consolidated net profit at Rs 34.4 crore for the second quarter ended September 2007 as compared to Rs 26.87 crore in the corresponding period last fiscal.

The revenues also increased five per cent at Rs 229.9 crore from Rs 218.9 crore in the said period.

''Our core IT solutions business grew 3.6 per cent quarter over quarter. We added six new customers including excellent scalable accounts in the Travel&Transportation vertical leading to an order intake of 49 million dollars,'' company CEO&Joint Managing Director Arvind Thakur said.

The Core IT solutions business excluding revenues from BPO and the newly integrated ROOM solutions contributed Rs 191.2 crore to the consolidated revenues whereas BPO business contributed Rs 12.1 crore and ROOM Solutions contributed Rs 26.6 crore.

Europe provided maximum share of business, representing 51 per cent of total revenues, while the Americas contributed 31 per cent of overall revenues during the quarter.

The rest of the world contributed 18 per cent of the revenues.

Company Chairman Rajendra S Pawar said, ''Our profit grew 28 per cent. While there has been a specific external challenge to our industry from the strengthening of the rupee, we have been able to arrest the impact through globally dispersed businesses in multiple currencies and sound hedging.'' The company added 235 people during the quarter, taking the total number of people engaged at the end of the quarter to 4,789.

UNI

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