NIIT has soared 15% to Rs 40.60 after reporting an over five-fold jump in consolidated net profit at Rs 14 crore for the fourth quarter ended March 31, 2014 (Q4FY14), on the back of strong operational performance. The company, engaged in the IT training services business, had posted a profit of Rs 2.7 crore in the same quarter a year ago.
Net revenues of the company during the quarter under review grew marginally by 5% to Rs 233 crore from Rs 222 crore in the corresponding quarter of the previous fiscal. The EBITDA margins improved 244 basis points to 6% from 3%, NIIT said in a statement.
Vijay K Thadani, Chief Executive Officer, NIIT said, “The corporate training business recorded fresh order intake of $21.8 million in Q4, up 52% YoY, reflecting strong customer confidence.”
The board also proposed a dividend of 80% or Rs 1.60 on each equity share with a face value of Rs 2 each.
The stock opened at Rs 36 and touched a high of Rs 41.40, its highest level since July 2012 on the BSE. The counter has seen huge trading activity, with a combined 13.47 million shares changing hands till 1415 hours on NSE and BSE.
Net revenues of the company during the quarter under review grew marginally by 5% to Rs 233 crore from Rs 222 crore in the corresponding quarter of the previous fiscal. The EBITDA margins improved 244 basis points to 6% from 3%, NIIT said in a statement.
Vijay K Thadani, Chief Executive Officer, NIIT said, “The corporate training business recorded fresh order intake of $21.8 million in Q4, up 52% YoY, reflecting strong customer confidence.”
The board also proposed a dividend of 80% or Rs 1.60 on each equity share with a face value of Rs 2 each.
The stock opened at Rs 36 and touched a high of Rs 41.40, its highest level since July 2012 on the BSE. The counter has seen huge trading activity, with a combined 13.47 million shares changing hands till 1415 hours on NSE and BSE.
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