NIIT PROPOSES 1:2 BONUS

Article Abstract:

NIIT has announced a bonus issue of shares at 1:2 ratio. It has declared a dividend of 37.5 percent for 1997-98. It has posted 60 percent higher net profit at Rs108.4 crore for the year ended September 1998 (Rs67.9 crore for year ended September 1997). NIIT's total income has increased by 51 percent to Rs648 crore (Rs430.7 crore) and cash profit by 64 percent to Rs138 crore (Rs84 crore). Its exports account for 48 percent of sales. Software business fetched 52 percent higher income of Rs271.2 crore. The training business increased by 40 percent to Rs256.5 crore. The multimedia business increased by 77 percent to Rs119.7 crore during 1997-98. (rk)

Sales, profits & dividends, NIIT Ltd

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NIIT PLANS $100-M KITTY TO ACQUIRE US COMPANY

Article Abstract:

NIIT Ltd is getting ready about $100 million to acquire a software company in the US. The company plans to buy out an US firm, add value to it and then consider financing options. It will soon appoint an investment banker to identify the most appropriate company for acquisition. The company wants to acquire a typical software firm engaged in managing and executing fixed cost off-site softwares in client servers in Internet environment. It should also have a dedicated customer base with an estimated enterprise value of about $100 million. (khr)

Strategy & planning, Acquisitions & mergers

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NIIT LAUNCHES MPOWER-IT

Article Abstract:

NIIT has launched a new product called Mpower-IT, which is claimed to be the world's first integrated, single point, enterprise-wide IT training solution. It provides a comprehensive range of IT training services to organisations like mapping needs, developing programmes and certification. (khr)

Computer Services, Computer Systems Design and Related Services, Product introduction, Computer and Data Processing Services, Information technology services

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