NIIT Tech profit zooms 57% in Q4

MUMBAI: IT solution provider NIIT Technologies’ consolidated net profit grew 57% to Rs 41.3 crore during the fourth quarter ended March 31, 2010, over the same period year-ago. Revenues of the company rose to Rs 239.2 crore for the quarter from Rs 227 crore in the same period last year, NIIT Technologies said. “A strong quarter with growth on all business parameters demonstrated the company’s successful navigation through the challenges posed by the economic crisis of the past,” NIIT Technologies CEO Arvind Thakur said.

The board has proposed a dividend of Rs 7 per share. For the full year, the company reported a growth of 10% in net profit at Rs 126.4 crore, over the same year-ago period. “Fresh orders worth $124 million secured in the quarter created a healthy order position with $147 million executable over the next 12 months,” Thakur added.