NIIT Tech Q3 net jumps 92pc, revenues up 46%

New Delhi, Jan 17 (UNI) IT solutions provider NIIT Technologies today reported a whopping jump of 92 per cent in its net profit at Rs 34.6 crore for the third quarter ended December 31, 2006 as against Rs 18 crore in the corresponding period last year.

The company contributed this expansion in profit mainly to the full integration of Room Solutions, the insurance firm it acquired last year.

''Room Solutions has been integrated in Q3FY07, and is the prime reason for the growth in profit. It contributed to the operating margin expansion to 21 per cent,'' NIIT Tech CEO Arvind Thakur told reporters here.

The Q3 revenues stood at Rs 231.5 crore, up 47 per cent over the same quarter at 157.4 crore.

The company recorded a fresh order intake of 56 million dollars during the quarter leading to an order book executable over the next 12 months of 95 million dollars.

UNI