NIIT Technologies slips over 8% as Q2 falls to Rs 40.10 crore

NEW DELHI: NIIT Technologies Ltd plunged as much as 8.5 per cent in trade on Thursday, after the IT firm posted 35.7 per cent decline in net profit at Rs 40.1 crore for the quarter ended September 30, 2014, impacted by increased depreciation costs.

At 09:30 a.m.; NIIT Technologies recouped some of the morning losses but was still trading 2.4 per cent lower at Rs 382. It hit a low of Rs 360.15 and a high of Rs 385.20 in trade today.

The company's net profit stood at Rs 62.4 crore in the July-September 2013 quarter.

The company's consolidated revenues increased 0.2 per cent to 588.3 crore in the reported quarter from Rs 587.3 crore in the July-September 2013 quarter.

It registered fresh orders worth $103 million in the said quarter and added five new customers in the US and India, PTI reported.