NIIT shares falls 8% intraday after company reports a loss of Rs 14.9 crore

NEW DELHI: Skill development firm NIIT Ltd fell as much as 8.06 per cent after the company reported a net loss of Rs 14.9 crore for the quarter ended March 2015.

The stock ended the day in red, down 6.70 per cent or Rs 2.70 at Rs 37.6.

It had posted net revenue of Rs 223.5 crore in the January-March period of the 2013-14 fiscal year.

The company reported a loss of Rs 14.9 crore as compared to a profit of Rs 14 crore reported in the corresponding quarter of the last fiscal year.

EBITDA on consolidated basis were at Rs 7.6 crore during the quarter, as against Rs 13.1 crore in the January-March period of 2013-14.

Rahul Keshav Patwardhan, who was appointed as the CEO Designate for NIIT on October 6, 2014, will formally takes charge as the Chief Executive Officer of the co on May 28, 2015.

Going forward, the focus will simultaneously be on driving growth and enabling the Technology Transformation that will take NIIT to its next frontier, Patwardhan said in a statement.