NIIT Q4 net at Rs 26 cr

Information technology education provider NIIT Ltd on Wednesday posted a Rs 26.2-crore profit after tax (PAT) in the fourth quarter ended March 31. Net revenue stood at Rs 305 crore. In the year-ago period, it had posted a PAT of Rs 37.8 crore, while revenue was at Rs 323.7 crore. Results were not comparable, as NIIT divested its stake in Element K for Rs 110 million during the third quarter of 2011-12, the company said. “This year, we had decided to go for restructuring and strengthening of balance sheet. We divested stake in Element K last year. Hence, the results are not comparable,” chief executive officer Vijay Thandani said.