NIIT Q1 net up 10.3% at Rs 17 cr

New Delhi, Jul 24 (UNI) NIIT Ltd, the leading global talent corporation firm, has recorded a 10.3 per cent increase in its net profit to Rs 17 crore for the quarter ended June 2008 as compared to Rs 15.4 crore during the same period last year.

The company's net revenue for Q1 FY09 grew 15.1 per cent to Rs 259.5 crore as against Rs 225.4 crore in Q1 FY08.

''Our strong growth has been driven by fresh order intakes, global career enrollments and the launch of joint venture with Genpact for the BPO sector,'' company Chief Executive Officer Vijay K Thadani told reporters here today.

NIIT's operating profit zoomed 28.9 per cent to Rs 18.7 crore for Q1 FY09 as compared to Rs 14.5 crore in the corresponding period previous year.

During the first quarter of FY09, the company launched NIIT Institute of Process Excellence - a joint venture with Genpact, to create talent pool for Business And Technology Services industry.

''The company's fresh order intake has crossed Rs 500 crore in this quarter. They were from three major sources - strong career enrollment, large orders for servicing government schools and large orders from US and Europe,'' Mr Thadani said.

Individual Learning Solutions in IT recorded growth in net revenue of 34 per cent YoY backed by 28 per cent growth in global career markets including China and Africa, NIIT Chairman, Rajendra S Pawar said.

On rising input costs affecting the profits, Mr Thadani said, ''rising rentals, cost of energy, travel costs etc are certainly affecting us in some way. However, we are increasing our efficiency so as to manage the same.'' UNI PDT MP AS1729