Rediff On The Net, Infotech: NIIT Q3 profits climb by 92 per cent


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July 21, 1998

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NIIT Q3 profits climb by 92 per cent

NIIT Limited, has reported a 92 per cent jump in net profit for the third quarter ending June 30, 1998, to Rs 453 million from Rs 236 million recorded during the same period last year.

The New Delhi based software and computer training company's revenues during the period went up by 54 per cent to Rs 1.307 billion from Rs 849 million during the corresponding period last year.

T O D A Y

• Lazarus II
• Nokia plant on hold
• NIIT profits up 92%
• Apple pie in India

Global revenues of NIIT and its subsidiaries for the nine months ended June 30, 1998, have gone up by 67 per. During the period, NIIT's software business grew by 68 per cent to record revenues of Rs 2.129 billion, training business grew by 59 per cent to touch Rs 1.766 billion and multimedia business went up by 88 per cent to Rs 795 million.

The company's international revenues grew by 83 per cent to touch Rs 2.196 billion from Rs 1.202 billion.

These now account for 47 per cent of the company's total revenues. "Our operations in the US and Europe have been better than expectations. Fresh software and education business for NIIT in the ASEAN region has led to a turnaround. A close watch on expenses and interest has led to improved profitability," said NIIT President and Chief Executive Vijay K Thadani.

- Compiled from the Indian media

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