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NIIT Tech Profit After Tax at Rs.129.2 Crore; up 95% YoY
» Profit After Tax at Rs.129.2 Crore ; up 95% YoY
» Consolidated Revenues at Rs . 885.9 Crore ; up 46% YoY
» Operating Profit at Rs.180.3 Crore , up 56% YoY
» Recommends enhanced dividend of 65%; bonus of 1 Equity share for every 2 Equity shares held
NIIT Technologies Limited, the global IT solutions organization, announced its annual results for the year ended March 31, 2007, showing consolidated revenues of Rs . 885.9 Crore , up 46% YoY from Rs . 607.5 Crore recorded last year. Net Profit grew 95% to Rs . 129.2 Crore , as against Rs 66.3 Crore last year.
The company posted a basic EPS of Rs . 33.38. The Board of Directors has announced an enhanced dividend of 65% on every equity share of Rs.10 each.
| ANNUAL Performance at a Glance | |||
| Yr ended Mar 31, 2006 Rs . Cr |
Yr ended Mar 31, 2007 Rs . Cr |
Growth
| |
| Consolidated Revenues | 607.5 | 885.9 | 46% |
| Operating Profit | 115.6 | 180.3 | 56% |
| Operating Margin | 19% | 20.4% | 133 basis points |
| Profit After Tax | 66.3 | 129.2 | 95% |
IT solutions contributed Rs . 830.5 Crore to the consolidated revenues, while the BPM business contributed Rs . 55.4 Crore , making up 6% of the total pie.
Europe continued to provide maximum share of business, representing 50% of total revenues, while the Americas improved its contribution to 32% during the year. The rest of the world contributed 18% of the revenues.
BFSI vertical contributed 42%, Transportation contributed 25% and Retail & Manufacturing contributed 12% of the revenues.
"The consistent all-round growth in revenues and profitability in all four quarters is a result of our single minded focus on building strengths in the chosen verticals," said Mr. Arvind Thakur, Chief Executive Officer, NIIT Technologies Limited.
The integration of ROOM Solutions with NIIT Technologies was completed successfully. The acquisition of the Insurance specialist, ROOM Solutions, made in May 2006 was EPS accretive.
"Looking at the exceptional performance of the company, the board has recommended a maiden bonus of 1 Equity share for every 2 Equity shares held, in addition to an enhanced dividend of 65% on the existing capital", said Mr. Rajendra S. Pawar, Chairman, NIIT Technologies Limited.
The Bonus recommended is subject to the approval of shareholders at the Annual General Meeting
NIIT Technologies Consolidated Quarter Results Jan-Mar 2007» Profit After Tax at Rs . 45.9 Crore , up 139% YoY
» Consolidated Revenues at Rs . 243.5 Crore , up 47% YoY
» Operating Profit at Rs . 53.4 Crore , up 61% YoY
» Order Intake of US$72 million
NIIT Technologies reported revenues of Rs . 243.5 Crore for the quarter ended March 31, 2007 an increase of 47% over Rs . 166.2 Crore recorded in the corresponding quarter last year. Profit After Tax stood at Rs 45.9 Crore , recording a growth of 139% over Rs . 19. 2 Crore recorded in the corresponding quarter last year.
| JAN-MAR QUARTER Performance at a Glance | |||
| Qtr ended Mar 31, 2006 Rs . Cr | Qtr ended Mar 31, 2007 Rs . Cr |
Growth YoY |
|
| Consolidated Revenues | 166.2 | 243.5 | 47% |
| Operating Profit | 33.2 | 53.4 | 61% |
| Operating Margin | 20% | 22% | 194 basis points |
| Profit After Tax | 19.2 | 45.9 | 139% |
IT solutions contributed Rs 228.3 Crore to the consolidated revenues for the quarter, making up 94% of the total pie, while the BPM business contributed revenues of Rs 15.2 Crore .
"The company supplemented its order book by committed business of US$ 72 million during the quarter", said Mr. Thakur.
A total of 249 people were added during the quarter taking the head count to 4448.
Acknowledgements
» NIIT Technologies was ranked among the Top 20 Best Employers in a Dataquest-IDC Best Employer Survey 2006, based on the findings of an industry wide Employee Satisfaction survey.
» NIIT Technologies' GIS arm, NIIT GIS, received the coveted ESRI High Achievements award for Asia Pacific in 2006.
About NIIT Technologies
NIIT Technologies is a leading IT Solutions organization, servicing customers in North America, Europe, Japan, Asia and Australia. It offers services in Application Development and Maintenance, Enterprise Solutions including managed services and Business Process Management to organizations in the Financial Services, Transportation, Government, Retail, Manufacturing and Government sectors.
NIIT Technologies follows global standards of development, including an ISO 9001:2000 certification, assessment at Level 5 of both SEI- CMMi and People-CMM frameworks and BS 7799 information security management certification. NIIT Technologies' Thailand operations are assessed at the international BS15000 IT management standards.
NIIT Technologies acquired ROOM Solutions in May 2006. ROOM is focused on the commercial insurance market including IT solutions to the customers of Lloyd's, the largest reinsurance market in the UK. ROOM Solutions strengthens NIIT Technologies' insurance capability by bringing in deep domain expertise in the Commercial Insurance space.
NIIT Technologies is ranked among the Top 20 Best Employers in a Dataquest–IDC Best Employer Survey.
NIIT Technologies' subsidiaries, NIIT SmartServe Limited and NIIT GIS Limited, offer Business Process Management and GIS Solutions, respectively.
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May 23 , 2007
