The Hindu : Business : NIIT Q4 net doubles to Rs. 17 cr.

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Wednesday, Jun 06, 2007
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NIIT Q4 net doubles to Rs. 17 cr.

Recommends 1:2 bonus shares; pays 65 p.c. dividend

— PHOTO: RAJEEV BHATT

EXPANDING PRESENCE: Rajendra S. Pawar (right), Chairman, and Vijay K. Thadani, Chief Executive Officer, NIIT, announcing the annual results for 2006-07 in New Delhi on Tuesday.

NEW DELHI: Asia's largest IT training company NIIT posted a 107 per cent increase in its profit after tax at about Rs. 17 crore for the fourth quarter ended March 31, 2007. Net revenues during the quarter grew by 123 per cent to Rs. 256.60 crore.

The board of directors recommended an enhanced dividend of 65 per cent, NIIT CEO Vijay K. Thadani told reporters here on Tuesday. The board also recommended a bonus issue of one equity share for every two shares held in the company and split each equity share of Rs. 10 each into five equity shares of Rs. 2.

China operations

NIIT reported 100 per cent growth in revenues from its China's operations at Rs. 112 crore during the last quarter.

For the year ended March 31, 2007, the company's profit after tax increased by 43 per cent to Rs. 57.30 crore, while net revenues rose by 76 per cent to Rs. 795.10 crore.

The global system-wide revenues grew by 65 per cent to Rs. 1,116.30 crore.

The individual learning business contributed 51 per cent to the global system-wide revenues, followed by corporate learning business (41 per cent).

The order intake for the company during the year grew by 57 per cent to Rs. 1,247 crore and the closing order book has risen by 53 per cent to Rs. 533 crore.

NIIT added 954 people during the year to take its total headcount to 3,213.

Mr. Thadani said in future the company would look to expand its presence in Europe, Nigeria, Vietnam, Indonesia and Malaysia. — PTI

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