NIIT ends day 11% up as Q1 net profit rises 25-fold

NEW DELHI: NIIT Ltd surged 16.89 per cent in intraday trade on Friday to touch its fresh 52-week high of Rs 60.90 on the BSE, after the company reported a 25-fold growth in net profit to Rs 15 crore for the quarter ended June 30.

The stock ended the day at Rs 57.95, up 11.23%, on the BSE.

The company reported a net profit of Rs 0.6 crore in the corresponding quarter of last fiscal, NIIT said in a release.

NIIT, which is a global leader in skills and talent development, recorded a net revenue of Rs 233.2 crore for the quarter ended June. The operating margin stood at 7%, up 135 bps YoY.

Speaking on the Company's performance during the quarter, Rahul Patwardhan, Chief Executive Officer, NIIT Limited, said, "On the back of continued and steady growth in our Corporate Learning Group and successful Business Transformation of the Skills & Careers Group, NIIT is back to growth and profitability."