The Hindu Business Line : NIIT Q2 net rises 12 pc

NIIT Ltd has registered a 12 per cent rise in its net profit for the second quarter ended September 2005 to Rs 13.2 crore compared with Rs 11.8 crore in the year-ago period.

Its global system-wide revenues increased 12 per cent to Rs 208.5 crore (Rs 186 crore).

The operating profit has grown 25 per cent to Rs 17.5 crore, leading to an improvement of 146 basis points in operating margin to 14.1 per cent this quarter, versus 12.6 per cent for the corresponding quarter last year.

Commenting on the results, the NIIT Chairman, Mr Rajendra S. Pawar, said, "The accelerating growth was driven by an underlying 27 per cent growth in the individual learning business."

Of the global revenues of Rs 208.5 crore, NIIT's individual learning segment contributed 58 per cent of the overall revenues, while the corporate and the institutional segments accounted for 28 per cent and 14 per cent, respectively.

The individual learning segment recorded a 27 per cent year-on-year (YoY) growth, with the China geography recording 24 per cent YoY growth. Career enrolments in India recorded an increase of 20 per cent during the quarter on a YoY basis.

On the BSE, NIIT shares closed at Rs 269.40, down 4.76 per cent compared to previous closing of Rs 282.85.

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