Photo: Pradeep Gaur/MintNew Delhi: NIIT Technologies on Friday reported 47.5% decline in net profit to Rs.28.6 crore for the first quarter ended 30 June, on account of a one-time provision of Rs.36.1 crore. NIIT Technologies on Friday reported 47.5% decline in net profit to Rs28.6 crore for the first quarter, on account of a one-time provision of Rs36.1 croreNIIT Technologies saw its revenues growing 4.5% to Rs. During the quarter, NIIT Tech’s domestic business declined 26.5% due to seasonality in Geographic Information Systems (GIS) and lower revenues from government clients. The company saw its revenues growing 4.5% to Rs.670.7 crore in the said quarter from Rs.642.1 crore in the April-June 2015 quarter, as per Indian Accounting Standard. Digital business witnessed strong traction and contributed to 18% of revenues, Thakur said.

Source: Mint July 15, 2016 12:45 UTC