NIIT Tech Q2 net up 78 pc at Rs 26.9 cr

New Delhi, Oct 20 (UNI) IT solutions company NIIT Technologies today posted a whopping 78 per cent rise in its consolidated net profit at Rs 26.9 crore for the second quarter ended September 30, 2006 against Rs 15.1 crore in corresponding period last year.

''The growth is owing to our strategy of focusing and differentiating and also due to deepening connects with existing customers,'' NIIT Technologies Ltd CEO Arvind Thakur told reporters here today.

The company clocked revenues of Rs 219.9 crore during the Q2FY07, of whiich the IT solutions business contributed Rs 206 crore while the BPO segment accounted the remaining Rs 13.9 crore.

Mr Thakur stated that the company expects to maintain a 40 per cent growth momentum in the near future.

He added that besides acquisition of the US-based Room Solutions, another factor contributing the growth during the Q2FY07 was the order intake of Rs 4.2 crore.

Operating profit of NIIT Tech stood at Rs 41.5 crore from Rs 26.1 crore, up 59 per cent over the corresponding quarter last year.

The company registered earnings per share (EPS) of Rs 6.95 during the second quarter of the fiscal as compared to Rs 3.86 in the same period a year ago.

Besides, the company has also entered into a joint venture with Adecco SA with a 50 per cent stake and the businesses are in process.

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