NIIT Ltd Q1 net up 17%, revenue jumps by 104%

New Delhi, July 30 (UNI) NIIT Ltd today said it has reported a net profit of Rs 15.40 crore for the quarter ended June 30, 2007 as against Rs 13.20 crore in the corresponding quarter last year, a growth of 17 per cent.

The company's revenue recorded a jump of 104 per cent at Rs 225.40 crore during the said period, from Rs 110.20 crore in the quarter ended June 30, 2006.

The company said its individual business growth had been 30 per cent year on year (YoY) while its corporate buisness order intake stood at 38.5 million dollars.

When asked about the disparity between the low net profit and the high revenue growth, company Chief Operating Officer Vijay K Thadani said the acquisition of Element K last year, along with the fluctuating rupee remained the main reasons for the steep difference.

''There was a six per cent impact on the topline results while the bottomline impact was 13 per cent. As 60 per cent of our business comes from the US, the affect was been major.'' NIIT would also expand its services to Vietnam, Indonesia and Nigeria by opening new learning centres, Mr Thadani said.

The company has also added 100 non-government schools in its already existing network of 4,500 to provide computer-aided education.

It had also announced its partnership with Intel Corporation, to launch a multi-core training programme, during the quarter.

Mr Thadani also said the company will provide computer-aided education to 525 schools in two north-eastern states under the Sarva Shiksha Abhiyaan. However, he declined to name the states as of now.

The company also plans to take products of Element K, a company acquired in August 2006, to 28 new locations mostly in Europe, Asia-Pacific, Singapore, Japan and China, etc.

UNI