Business Daily from THE HINDU group of publications
Tuesday, Jul 31, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jul 31, 2007 ePaper |
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Info-Tech
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Financial Performance Corporate Results - IT Training New biz drives NIIT growth
Learning curve: (From left) Mr Vijay K. Thadani, CEO, NIIT; Mr Rajendra S. Pawar, Chairman; and Mr P. Rajendran, COO, at a press conference in the Capital on Monday. –
Our Bureau New Delhi, July 30 IT education and talent development company NIIT Ltd and its subsidiaries on Monday posted a net profit of Rs 15.4 crore for the April-June quarter, up 17 per cent over the year-ago period, with new businesses contributing significantly to the growth. The company recorded net revenues of Rs 225.4 crore, representing a 104 per cent increase over the same period the previous year. “The growth momentum continues through new businesses including the recently acquired Element K,” the NIIT Chairman, Mr Rajendra S. Pawar, said at a conference. The company’s individual learning business recorded a 30 per cent growth in revenues in Q1 compared to the same period last year, with career programmes growing at 33 per cent. Placements
NIIT’s student placement in the top 20 IT companies grew by 95 per cent. With added strength of Element K acquisition, NIIT bagged significant orders in the corporate learning space, contributing to an order intake of $38.5 million during the quarter. “New businesses, Institute of Finance, Banking and Insurance (IFBI), and Imperia, have increased enrolments in the current cycle by 100 per cent and extended to markets beyond the metros, in Pune and Ahmedabad,” the company said, adding that Imperia launched three programs — Human Resource Management, Retail Management, and Software Development Management from IIMs in Ahmedabad and Kolkata. IFBI extended its portfolio by partnering with three leading banks.
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