(31 January 2007 8:00 pm)

MUMBAI: News Corp owned digital pay-TV technology encryption specialist NDS reported a 17 per cent increase in second quarter net profit (to 31 December) at $30.3 million, compared to the $26 million achieved for the corresponding period in the previous year.

Net profit for the six-month period was $65.4 million. Revenues were up eight per cent to $165 million compared to the previous year. NDS' half-year income was up 11 per cent at $ 329 million.

Increases in revenues were principally due to higher security fees and a higher volume of smart cards delivered to customers, especially to new customers in Europe, China and India.

Commenting on the company's performance, NDS' chairman and CEO Dr Abe Peled said: "NDS has completed another successful quarter, and has made tangible progress in developing products for the rapidly changing media distribution landscape. The acquisition of Jungo, a leader and pioneer in the broadband residential gateway software, coupled with our Synamedia Metro system solution, and our VG Key digital rights management offering position NDS well to support the secure distribution of content over broadcast as well as broadband IP networks to any device, anywhere."

NDS completed the acquisition of Israeli residential gateway device and software supplier Jungo Limited on 31 December. As of that date, NDS had cash reserves of $483.4 million.