A series of new programmes and products coupled with better realisations helped NIIT to record a consolidated profit after tax (PAT) of Rs 17.1 crore in the fourth quarter ended March 2007 (Q4FY07) - an increase of 107% from Rs 8.26 crore recorded in the corresponding quarter last year.The company's net revenues for the quarter grew by 123% year on year (YoY) to touch Rs 256.6 crore as compared to Rs 115.06 crore reported in Q4FY06.On a quarter-on-quarter (sequential) basis, the company recorded a 60% growth in its net profit as compared to last quarter's figure of Rs 10.7 crore.For the financial year 2006-07(FY07), NIIT recorded a growth of 43% growth in PAT to touch Rs 57.3 crore. The global system-wide revenue of NIIT and its subsidiaries recorded a growth of 65% to touch Rs 1,116.3 crore while net revenues stood at Rs 795.1 crore. The system-wide order intake at Rs 1,247 crore was up 57%. The closing order book of Rs 533 crore is up 53% over last year.During the year, NIIT's new businesses like the Institute of Finance, Banking and Insurance (IFBI), with equity participation from ICICI Bank, NIIT Imperia and NIIT Litmus was able to cross Rs 10 crore.Commenting on growth opportunities Rajendra Pawar, Chairman, NIIT, said, "Opportunities created by high growth sectors are being addressed by new offerings and businesses from NIIT--Imperia, IFBI and Litmus."ElementK, the Rochester-based comprehensive learning solutions company, acquired in August 2006, contributed to 24 % of the system-wide revenues and was EPS accretive for the year. The acquisiton helped the turnaround in the international revenues leading to 59% of the total system-wide revenue as compared to 44% last year. NIIT's China operations showed a 100% growth in Q4FY07, from Rs 112 crore recorded last year, contributing to 25% of the system-wide revenue of the company's individual business.Going forward, the company plans to enhance its existing presence in various countries. It however will pay more attention to the European countries besides Nigeria, Vietnam, Indonesia, Malaysia, Russia, Mexico, Latin America and South Africa.The company had a headcount of 3,213 by adding 954 people during the year, and intends adding 200 people every quarter. NIIT also plans to venture into new business models that go beyond the IT sector.
