NIIT Tech Q3 net up 35% y-o-y

NEW DELHI: NIIT Technologies net profit increased 35% to Rs 48 crore for the quarter ended December, 2010 compared to the same quarter a year ago. The company reported sales of Rs 301 crore for the same period. Margins, however, dipped from 22% last year to 20.7% due to expenses of about Rs 15 crore in laying IT infrastructure for the paramilitary force Border Security Force. Shares of the company closed up 2% at Rs 209.60 on the BSE on Tuesday.


"Operating profits have grown consistently though the year in each quarter," said NIIT Technologies CEO Arvind Thakur. "Operating Margins expanded sequentially by 243 bps to 20.7% reflecting yet another good quarter, " Mr Thakur added .Operating profits grew 4.9% sequentially to Rs 62.2 crore and profit after tax stood at Rs 47.8 crore, a 9.8% increase over the previous quarter.