NIIT Technologies is a leading IT solutions organization,engaged in application development and maintenance, managed services, cloud computing and business process outsourcing for customers in North America, Europe, Japan, Asia and Australia.
NIIT delivers services across continents directly as well as through its network of subsidiaries.The Company has development centres in New Delhi, Kolkata, Mumbai, Bangalore, Atlanta, London and Singapore.
NIIT Technology’s customers are from a range of industries including insurance companies, financial service providers, travel agencies, transportation and logistics companies, manufacturing and distribution and government sectors.
NIIT Technologies limited was incorporated in the year 1992, it is a Mid Cap company with a market capital of Rs 9729.78 Crore. As on 31-03-2020, the company has a total of 62,494,559 shares outstanding.
Mr. Basab Pradhanis the chairman ang Mr. Sudhir Singh is the Chief Executive Officer and Executive director of NIIT Technologies.
In May 2015, the Company made acquired 51% stake in Incessant Technologies, a global BPM specialist company sharply focused on enabling its clients to automate and integrate back end systems with a digital front end. In 2018, NIIT acquired RuleTek (RuleTekis BPM’s architecture services company which has a track record of successful implementations for Fortune 500 companies). This transaction strengthened the NIIT’s digital Integration capabilities, expanded its footprint in the North American market
For the quarter ended 31-03-2020, the company has reported a consolidated sale of Rs 1109.30 Crore (which is up 3.34 % from last quarter sales of Rs 1073.40 Crore) and up 14.10 % from last year same quarter Sales of Rs 972.20 Crore.
Company has reported net profit after tax of Rs 124.20 Crore in latest quarter. For the year ending March 2020 NIIT Technologies has declared an equity dividend of 310.00% amounting to Rs 31 per share.
In December 2019, the board of NIIT Technologies approved the proposal of buying back up to 19,56,290 fully paid-up equity shares of a face value of Rs 10 each at a price of up to Rs 1,725 per share. On 21st May 2020, NIIT Technologies announced that its Rs. 337.4-crore buyback offer will commence from May 29.
The company was formerly known as NIIT Investments Limited and changed its name to NIIT Technologies Limited in May 2004. Recently NIIT Technology’s board approved the name change of the Company from ‘NIIT Technologies Limited’ to ‘Coforge Limited’.
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