NIIT hits fresh 52-week high, up 28% in two sessions

NEW DELHI: Shares of NIIT Ltd extended gains for the second straight session and hit their fresh 52-week high of Rs 67.30 in intraday trade on Monday, before closing the session at Rs 66.80 on the BSE, up 15.27 per cent.

Including Monday's gains, the stock has rallied 28.21 per cent since Friday, thanks to a 25-fold jump in net profit, the company reported for the June quarter.

The company said its net profit stood at Rs 15 crore for the June quarter, compared with Rs 0.6 crore in the corresponding quarter of last financial year.

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 per cent, 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."