A sound hedging strategy and better geography spread helped NIIT Technologies post a 28% increase in its net profit (consolidated) to touch Rs 34.4 crore for the second quarter ended September 30, 2007 as compared to the same period last financial year. The company's consolidated revenue for the quarter stood at Rs 229.9 crore - up 4.5 % over Rs 219.9 crore in the same period last financial year.However, sequentially (as compared to trailing quarter), its net profit stood at Rs 26.9 crore - a dip of 1.9%. Its sequential revenue growth too was almost flat at 0.2%, implying a poor growth in volumes (volume growth was a mere 1%). Its operating margin too was down by 35 basis points due to the appreciating rupee. The company announced a hike in its billing rate for some of its new orders, to tackle the appreciating rupee.Arvind Thakur, CEO & jt MD, NIIT Tech, admitted: "We experienced a 1% impact of the rising rupee on our business but we are now hedged for the next 12 months."Rajendra S Pawar, chairman, NIIT Technologies, concurred: "While there has been a specific external challenge to our industry from the strengthening of the rupee, we have been able to arrest the impact through globally-dispersed businesses in multiple currencies and sound hedging."During the quarter, the company added 235 people, taking the total headcount to 4,789. The attrition for the company was 16% for this quarter. It was 19% in the trailing quarter. In terms of geography, Europe, the US and APAC contributed 51%, 31% and 18% respectively to the revenues. The company is also planning acquisitions in Europe and the US in the finance and insurance, travel and transportation and retail and distribution sectors. "We have a strong inorganic programme," said Thakur.