NIIT Technologies Q4 net up 21 pc at Rs 50 cr

NEW DELHI: IT solutions services provider NIIT Technologies today reported a growth of 21.1 per cent in consolidated net profit to Rs 50 crore for the quarter ended March 31, 2011.

The company had posted a net profit of Rs 41.3 crore for the same period last year, NIIT Technologies said here.

"Strong traction in the travel space and banking financial services and insurance, as well as excellent growth in the US and Asia-Pacific region through the year, contributed to these impressive results," NIIT Technologies CEO Arvind Thakur told reporters here.

Revenues rose to Rs 315.7 crore during the January-March quarter from Rs 239.2 crore in the same period last year.

For the full year, the company reported a jump of 44.2 per cent in net profit to Rs 182.2 crore and revenues grew to Rs 1,232.3 crore, up 34.9 per cent.

The board has proposed a dividend of Rs 7.5 per share of Rs 10 face value.

Shares of NIIT Technologies were trading at Rs 190.50 on the BSE today, up 1.46 per cent from the previous close.