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|March 23, 1998||
NIIT strategy pays dividends -- 35 per cent
The shareholders of NIIT Ltd, the global software and computer training organisation, have approved a dividend of 35 per cent following strong results posted by the company for the year ending September 30, 1997.
The company registered a growth of 52 per cent in its global turnover, which currently stands at Rs 4.3 billion. Net profits before tax grew by 44 per cent to touch Rs 724 million for the year ending September 30, 1997.
At the annual general meeting where the dividend was approved, Shiv Nadar, Chairman, NIIT, said the it was the synergy between training and software that ha sled to this healthy performance, adding that the year had seen all-round growth -- in software, training and educational multimedia.
Nadar said that in preparation for the expected demand in training and software development as computers get more ubiquitous, NIIT plans to open 100 centres each year, in India and abroad. This year, NIIT plans to add another 100 educational multimedia titles this year.
NIIT Vice Chairman Rajendra S Pawar said software facilities achieved SEI-CMM Level 3 Certification, making the company, in terms of quality, among 20 software organisations outside the US to achieve this status. Now, he said, the company is looking at the maximum possible certification of SEI-CMM Level 5.
NIIT has tied up with the National Securities Depository Limited to help investors convert physical shares into electronic shares and the inclusion of its financial results on its web site.
Among NIIT's customers are government clients in Singapore, CSK Corporation and NTT Data in Japan, British Airways in the UK and financial services companies in the US.
- Compiled from the Indian media
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