IT solutions provider NIIT Technologies today announced a fall in consolidated net profit by 51.58 per cent at Rs 16.8 crore for the quarter ended December 31.
In a filing to the Bombay Stock Exchange, NIIT Technologies informed that it had a net profit of Rs 34.7 crore for the same quarter in the 2008 fiscal.
"With major economies moving into recession, our immediate focus has been securing future business with our top clients," NIIT Technologies CEO and Joint Managing Director Arvind Thakur said.
The company has posted consolidated revenues of Rs 248.5 crore for the quarter under review, against Rs 233.0 crore for the same period a year ago.
During the quarter, the company formed a wholly owned subsidiary in Dubai named NIIT Technologies FZ LLC, Dubai.
Shares of NIIT Technologies settled at Rs 59.05, down 3.12 per cent on the BSE.
