ANNOUNCING its Q2 results for 2010-11, information technology company NIIT Technologies said it would hire between 200400 employees by next quarter. It had taken on its rolls 409 employees during the last quarter, which was the maximum number of people it has ever hired in a quarter taking the total headcount to 4,994.
The company posted a net profit of Rs 43.5 crore for the second quarter ended September 30, 2010, up by 35.6 per cent as compared to corresponding period last year at Rs 32.1 crore.
"We would continue the hiring trend in the next quarter. We have also given wage hikes to our onsite employees, which accounts for 22 per cent of the total workforce by 3 per cent last month. This month, we are planning for a wage hike for rest of the workforce (offshore employees) in the range of 4-5 per cent," said CEO, NIIT Technologies, Arvind Thakur.
He said that the company saw a strong demand in the first half of the year, owing to a pent up demand from the slowdown. The company also got fresh intake of $60 million for three customers -two in travel and one in insurance space -and has an orderbook executable over the next 12 months of $141 million. To reduce the risk of currency volatility, Thakur said the company has hedged a total of $45.5 million at an average rate of Rs 43.46 a dollar for the next two quarters.
Consolidated revenue of the firm stood at Rs 324.6 crore, growing by 43.5 per cent, against Rs 226.3 crore in the same period last year.
The US contributed 36 per cent of the total revenues, followed by Europe, West Asia and Africa.
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