NIIT shares jump 16% on smart earnings

May 21 2014, 18:51 IST
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SummaryNIIT scrip ended the day at Rs 41, up 15.66 per cent, on the BSE.

Shares of IT training solutions firm NIIT Ltd closed with an impressive gain of around 16 per cent today after the company reported over five-fold rise in net profit at Rs 14 crore for the quarter ended March 2014.

The company's scrip ended the day at Rs 41, up 15.66 per cent, on the BSE. In intra-day, it surged 17.2 per cent to touch its one-year peak of Rs 41.55.

On the NSE, the stock settled 16.38 per cent higher at Rs 41.20.

On the volume front, 40 lakh shares of the company changed hands on the BSE, while over one crore shares were traded on the NSE during the day.

NIIT Ltd today reported over five-fold rise in net profit at Rs 14 crore for the quarter ended March 2014 on strong growth in corporate learning segment.

The company's net profit (on like-to-like basis) stood at Rs 2.7 crore in the January-March quarter of 2013.

The financials exclude numbers from hardware supplied by NIIT for some contracts and are compared on a like-to-like basis.

The net revenue grew five per cent to Rs 232.9 crore in the reported quarter from Rs 221.6 crore in the year-ago period.

For the fiscal ended March 2014, the net profit declined 32.3 per cent to Rs 17.8 crore while revenue grew marginally by one per cent to Rs 26.3 crore, compared to the previous fiscal.

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