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NIIT has soared 17% to Rs 60.90, also its 52-week high on the BSE, after the company reported robust net profit growth for the quarter ended June 30, 2015 (Q1).
The company posted a consolidated net profit at Rs 15 crore in the April-June quarter against Rs 60 lakh in the same quarter a year ago.
Net revenues grew 4% to Rs 233 crore against Rs 225 crore in the corresponding quarter of previous fiscal. The operating profit margin stood at 7%, up 135 basis points year-on-year, NIIT said in a statement.
Vijay Thadani, Vice Chairman and Managing Director, NIIT Ltd, said, “The recent announcements by the Government on Skill India and Digital India will enable mass scaling of skill development, using technology as a delivery mechanism. NIIT is well poised to harness this opportunity as it is already using Cloud Campus and Synchronous Learning Technology to reach thousands of students across multiple industry segments.”
At 03:14 PM, the stock was up 11% at Rs 57.65 on the BSE. The trading volumes on the counter surged multiple-fold, with a combined 24.75 million shares changing hands on the BSE and NSE.
The company posted a consolidated net profit at Rs 15 crore in the April-June quarter against Rs 60 lakh in the same quarter a year ago.
Net revenues grew 4% to Rs 233 crore against Rs 225 crore in the corresponding quarter of previous fiscal. The operating profit margin stood at 7%, up 135 basis points year-on-year, NIIT said in a statement.
Vijay Thadani, Vice Chairman and Managing Director, NIIT Ltd, said, “The recent announcements by the Government on Skill India and Digital India will enable mass scaling of skill development, using technology as a delivery mechanism. NIIT is well poised to harness this opportunity as it is already using Cloud Campus and Synchronous Learning Technology to reach thousands of students across multiple industry segments.”
At 03:14 PM, the stock was up 11% at Rs 57.65 on the BSE. The trading volumes on the counter surged multiple-fold, with a combined 24.75 million shares changing hands on the BSE and NSE.
