NIIT invests Rs 15 cr for upgrade to Windows XP

Inspite of its poor performance in the previous two quarters during 2001, NIIT, an IT training company, has invested in upgrading Microsoft Windows and Office versions to the recently launched Windows XP and Office XP, across the country.

According to a spokesperson from Sonata Information Technology, Microsoft's channel partner, NIIT's order was worth Rs 15
crore.

According to the Q4 results (Jul-Sep) announced by NIIT, its net profit fell 86.2 percent(to Rs 12.51 crore from Rs 90.82 crore) during the same quarter last year. NIIT witnessed a fall in its net profit by 93.2 percent in Q3, 2001, compared to the same quarter last year.

NIIT was the first Indian company to issue profit warnings and accept that it would be hit by the slowdown in the software sector. The 20 year old NIIT has been under financial pressure and has seen a decrease in revenue as demand for the shorter term courses fell due to a downturn in the software sector.