NIIT posts $170 mn net profit

July 24th, 2008 - 8:11 pm ICT by IANS  

New Delhi, July 24 (IANS) IT training and talent development company NIIT Ltd has recorded a net profit of $170 million for the first quarter of 2008-09 compared to Rs.154 million over the same period last year. Though the company registered a year-on-year growth, its net profit declined from the January-March quarter figure of Rs.252 million, NIIT announced Thursday.

The company’s net revenue showed a YoY increase of 15 percent clocking Rs.2.59 billion. The highest growth product for NIIT in the first quarter was its school learning solution program that showed a growth of 42 percent in revenue. The Andhra Pradesh government has mandated this programme in 2,000 schools across the state.

The first quarter also witnessed NIIT partnering with Genpact to start a business process outsourcing (BPO) training program, adding Infospectrum India’s enterprise resource planning software suite in its school learning program and setting up a model training facility in Dalian, China, taking the overall tally of NIIT centres in China to 177 across 24 provinces.

The company’s global enrolment grew by 28 percent in the quarter.

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