NIIT Tech net up 139 pc in Jan-Mar qtr

NEW DELHI: Software company, NIIT Technologies on Wednesday announced it has posted a 139 per cent rise in net profit at Rs 46 crore for the January-March quarter as compared to the same period last year.

The company's board has also recommended a maiden bonus of one equity share for every two shares held, NIIT Technologies Chairman Rajendra Pawar said.

The consolidated revenue during the quarter was up 47 pc year-on-year at Rs 243.5 crore for quarter ended March 31. The company's order intake during the quarter stood at $72 million.

The operating profit during the period increased by 61 per cent at Rs 53.4 crore, while the operating margin was at 22 per cent, 194 basis points higher over the same period last year.

For the year 2006-07, the company's net profit rose by 95 per cent y-o-y at Rs 129.2 crore and consolidated revenue was up 46 per cent at Rs 885.9 crore.

Operating margin during the year was 20.4 per cent, a rise of 133 basis points y-o-y.

"The consistent all-around growth in revenue and profitability in all the four quarters is a result of our focus on building strength in our chosen vertical - Banking and financial services, transportation and retail and manufacturing." NITT Technologies CEO Arvind Thakur said.