NIIT Ltd Q3 net jumps 95pc, revenues up 114pc

New Delhi, Jan 19: Leading computer education firm NIIT Ltd's net profit almost doubled at Rs 10.7 crore during the quarter ended December 31, 2006 from Rs 5.5 crore in the same period a year ago, recording a growth of 94.54 per cent.

The Q3FY07 net revenues were Rs 225.1 crore, up 114 per cent over Q3FY06 at Rs 105.3 crore.

NIIT Chairman Rajendra S Pawar said, ''The strategic and inorganic initiatives led to a 114 per cent growth in revenues and 97 per cent growth in profits.'' International revenues contributed 64 per cent of the global system-wide revenues while India contributed the rest.

The Corporate Learning Business of the company recorded a fresh order intake of 10.8 million dollars in the quarter.

NIIT added ten new significant corporate customers during the quarter, NIIT Ltd CEO Arvind Thakur informed.

The integration process of the recently acquired Element K, a US-based learning solutions provider, with the company resulted in the former recording revenues of 21.34 million dollars during the quarter.

UNI