 "NIIT soars over 10% on healthy Q1 results")
Shares of NIIT soared nearly 15% to Rs 103 on BSE after the company reported a consolidated net profit at Rs 10.4 crore for the quarter ended June 2017 (Q1FY18). The IT training services firm had posted profit of Rs 0.80 crore in the same quarter of last fiscal year.
Net revenue during the quarter under review was up 4% at Rs 210 crore in constant currency terms.
“Corporate Learning Group (CLG) records constant currency growth of 14% YoY. CLG adds MTS contracts from 2 Fortunes 500 companies,” NIIT said in a release.
“The business transformation program has started to yield results. Our go forward business has grown 5% YoY,” said Rahul Patwardhan, Chief Executive Officer, NIIT.
At 02:03 pm; the stock was up 14% to Rs 102 on BSE, as compared to 0.52% decline in the S&P BSE Sensex. The trading volumes on the counter jumped more than 15-fold with a combined 15.05 million shares changed hands on BSE and NSE so far.
Net revenue during the quarter under review was up 4% at Rs 210 crore in constant currency terms.
“Corporate Learning Group (CLG) records constant currency growth of 14% YoY. CLG adds MTS contracts from 2 Fortunes 500 companies,” NIIT said in a release.
“The business transformation program has started to yield results. Our go forward business has grown 5% YoY,” said Rahul Patwardhan, Chief Executive Officer, NIIT.
At 02:03 pm; the stock was up 14% to Rs 102 on BSE, as compared to 0.52% decline in the S&P BSE Sensex. The trading volumes on the counter jumped more than 15-fold with a combined 15.05 million shares changed hands on BSE and NSE so far.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%