India's NIIT FY'98 Earnings to Rise 70 % to 1.16 Bln Rupees
Anil:
Hope this news bode well for your holdings in Satyam Computers.
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Source:Bloomberg 10/12/98
Expected Earnings
NIIT Ltd., an Indian computer software maker and
trainer, is expected to post a 70 percent rise in earnings
to 1.16 billion rupees ($273 million) for the fiscal 98,
according to a Bloomberg poll of four analysts.
For the year ending Sept. 30 the company made a profit
of 684 million rupees, last year.
Expected Time
The company is expected to announce its earnings on
Wednesday, Oct. 14.
Behind the numbers
The growth in profit is expected to be led by rising
revenues in software development and exports. It will also
gain from improved margins after taking on more value-added
business, analysts said.
The company has also expanded into the U.S and Europe
to buffer it from the slowing markets of Southeast Asia.
Last month, NIIT said it expects sales to rise as it
bagged more projects to integrate computer systems for
electronic commerce.
What the experts say
''Business growth, steady earnings and savings in
interest costs will help the company,'' said Jayesh Parekh,
an analyst at SMIFS Securities in Mumbai.
Previous market reaction
The stock rose 3.31 percent to 1,536.5 rupees after the
company said its third quarter earnings rose 91.1 percent to
453 million rupees for the three months ended June 30.
The stock which has risen 94 percent in a year, closed
34.5 rupees lower at 1,285.5 rupees today.
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