NIIT Tech posts 40% jump in profit to Rs 58 crore

IT firm NIIT Technologies posted a 39.7 percent jump in net profit to Rs 57.5 crore for the quarter ended 30 June, 2012.

This is against a net profit of Rs 41.2 crore in the corresponding quarter of last year. The company’s revenues stood at Rs 469.6 crore in the reported quarter, up 42.8 percent from Rs 328.8 crore registered in the April-June 2011 quarter.

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“The gains from depreciation of rupee was offset by annual compensation increase during the quarter, resulting in drop in margins by 80 basis points (0.8 per cent) to 16 percent from 16.8 percent last quarter,” the company said in a statement.

PTI