NIIT reports 3.8% jump in Q2 net profit to Rs 21.6 crore

NEW DELHI: NIIT on Wednesday reported a 3.8 per cent year-on-year (YoY) rise in consolidated net profit to Rs 21.6 crore for the quarter ended September 30. The company had reported a net profit of Rs 20.80 crore in the same quarter last year.

The company said its consolidated revenue rose 9.2 per cent for the quarter, compared with Rs 273 crore in the corresponding quarter of last year, thanks to 23 per cent growth in corporate learning segment.

Consolidated Ebitda at Rs 28.60 crore was higher than Rs 25.20 crore in the year0ago quarter.

Ebitda margins for the quarter expanded to 10 per cent from 9 per cent in the September quarter of last year.

CEO Rahul Patwardhan said that the company reduced net debt and made substantial improvement in working capital management. Net debt for the company was down 30 per cent sequentially to Rs 91.70 crore at the end of September quarter.

The company has recently acquired EdTech start-up Perceptron Learning Solutions to get into digital transformation initiatives.