NIIT Tech Q4 net up 57 pc; declares dividend of Rs 7 a share | business | Hindustan Times
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NIIT Tech Q4 net up 57 pc; declares dividend of Rs 7 a share

IT solution provider NIIT Technologies' consolidated net profit today reported a growth of 57 per cent at Rs 41.3 crore for the fourth quarter ended March 31, 2010, over the same period year-ago.

business Updated: May 05, 2010 16:48 IST

IT solution provider NIIT Technologies' consolidated net profit on Wednesday reported a growth of 57 per cent at Rs 41.3 crore for the fourth quarter ended March 31, 2010, over the same period year-ago.

Revenues of the company rose to Rs 239.2 crore for the quarter ended March 31, from Rs 227 crore in the same quarter last year, NIIT Technologies said in a filing to the Bombay Stock Exchange.

"A strong quarter with growth on all business parameters demonstrated the company's successful navigation through the challenges posed by the economic crisis of the past," NIIT Technologies CEO Arvind Thakur said.

The board of directors have proposed a dividend of Rs 7 per equity share to the shareholders of the company. For the year ended March 31, 2010, the company reported a growth of 10 per cent in net profit at Rs 126.4 crore, over the same year-ago period.

"Fresh orders worth USD 124 million secured during the quarter created a healthy order position with USD 147 million executable over the next 12 months," Thakur added.

Shares of NIIT Technology were trading at Rs 188.50 on the BSE, up 0.48 per cent from previous close.