NIIT Technologies has posted a 34 per cent increase in its consolidated net profit for three months ended December 31, 2011, at Rs 64 crore, on the back of strong order intake and the weak rupee. The net profit stood at Rs 47.8 crore in the year ago period.

The company said although it continued to see turbulence in the macro environment, there were signs of improvement in the US market. “The situation in Europe continues to be worrisome,” the NIIT Technologies Chief Executive Officer, Mr Arvind Thakur, said at a conference.

Mr Thakur said the company continues to see a strong momentum in the travel and transportation vertical, which now accounts for 38 per cent of the overall revenue.

“While the macro environment is turbulent, people continue to travel. And even though the global economy impacts travel and transportation segment, this segment is still investing in technology to manage environmental challenges and drive growth,” he said.

Manufacturing vertical, too, is picking up momentum in Asia after a temporary slowdown stemming from natural disasters in Japan and Thailand, Mr Thakur added.

The consolidated revenue during October-December quarter rose 44 per cent year-on-year to Rs 433 crore against Rs 300.6 crore in the corresponding period previous year. The volume growth in the just-concluded quarter stood at 7.8 per cent. The operating margins at 18 per cent showed a 319 basis point improvement as compared to the previous quarter, partly on account of the rupee movement.

Employee addition

NIIT Technologies had a net addition of 245 employees during the quarter, and its total headcount stood at 6,978. The company said that significant multi-million dollar repeat orders from top clients led to $75 million of fresh order intake, resulting in $245 million of executable order book over the next 12 months.

NIIT Tech scrip closed at Rs 212.20 a share on the BSE on Wednesday, about 3.11 per cent higher than the previous close.

>moumita@thehindu.co.in

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