NIIT Tech net up 6% to Rs 14 crore

BS 200 SCORECARD

NIIT Technologies Ltd has announced a 6 per cent rise in its quarterly net profit to Rs 14 crore in the quarter ened June 30 compared with Rs 13.2 crore in the quarter ended March 2004.

The company's consolidated revenues for the quarter grew marginally by 7 per cent to Rs 136.5 crore compared with Rs 127.5 crore in the last fiscal. While 93 per cent of the company's revenues were contributed y IT solutions, the BPO business accounted for 7 per cent totaling Rs 9.3 crore.

The company, however, is optimistic about its BPO business which grew by 29 per cent on a year-on-year basis and expects it to contribute to 8 per cent of the company's revenues next year.

The company achieved a 19 per cent increase in its operating profit margin in 2004-05 compared with 18 per cent in the previous year due to increased focus on three verticals "" banking, retail and transportation.