NIIT Q4 net up 107 pc, recommends 65 pc dividend

New Delhi, June 5 (UNI) NIIT Ltd today said the company's net profit jumped by 107 per cent at Rs 17.1 crore for the quarter ended March 2007 against Rs 8.26 crore in the corresponding period in last year.

The net revenues also increased by 123 per cent to Rs 256.6 crore from Rs 115.06 crore in the said period.

The company's net profit for the financial year ended March 2007 rose to 43 per cent at Rs 57.3 crore as compared to Rs 40.06 crore in the previous fiscal.

For the FY0607, the net revenues increased by 76 per cent to Rs 795.1 crore against Rs 451.76 crore in the previous financial year.

''The growth momentum created by new products, enhanced capacity and better realisation contributed to this profit,'' company's Chief Executive Officer Vijay K Thadani told reporters.

He said the highlight of the quarter was a 100 per cent growth in revenues from NIIT's China operations which contributed 25 per cent of the system-wide revenues of the individual business.

The company has recommended an enhanced dividend of 65 per cent on existing equity capital and a bonus of one equity share for every two held.

For the quarter ended March 2007, the company's global system-wide revenues rose by 82 per cent to Rs 334.3 crore from Rs 183.68 crore in the corresponding period last year.

The company's gobal system-wide revenues registered 65 per cent increase at Rs 1,116.3 crore for the fiscal 2006-07 against Rs 676.54 crore in the last fiscal.

The individual learning business contributed 51 per cent of the global system-wide revenues followed by the contribution of 41 per cent for the corporate learning business, Mr Thadani said.

The international revenues in the year also grew to 59 per cent of the total system-wide revenue.

However, the rupee appreciation against dollar has adversely affected the revenues from abroad, said Mr Thadani adding that ''We lost around 2.5 per cent of the total revenue of 59 per cent.'' Out of this 59 per cent revenue, the US accounted for 39 per cent, Kenya seven per cent and Asia Pacific and China 13 per cent, he added.

UNI