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NIIT Tech Q4 net up 14%

NIIT Technologies saw a 14 per cent jump in net profit to Rs.19.2 crore during the quarter ended March 2006 against Rs.16.9 crore posted in the year-ago period.

The company has also announced dividend of 60 per cent on every equity share of face value Rs 10.

The company’s consolidated turnover for the quarter ended March 2006 was Rs 166.2 crore, higher by 21 per cent in relation to the previous year’s consolidate turnover of Rs 137.1 crore.

NIIT is coming up with a 25 acre SEZ at Greater Noida, Uttar Pradesh. The work of the SEZ will be done in three phase and it will be investing Rs 100 crore in the first phase. The SEZ will have a capacity of 10,000 employees of which 3,500 will be employed in the first phase.

“We have already acquired 20 acres and started work on the first phase and the remaining 5 acres will be acquired soon. We have also asked the government to give SEZ status to the whole area” Arvind Thakur, CEO, said at a press conference.

NIIT registered a net profit of Rs 66.3 crore in 2005-06, up 13 per cent over Rs 58.5 crore posted the previous year. Consolidated turnover for the period was Rs 607.5 crore, 12 per cent higher than Rs 543.2 crore seen last fiscal.

 

( www.business-standard.com)

 
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