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NIIT soars over 10% on healthy Q1 results

The stock soared nearly 15% to Rs 103 after the company reported profit at Rs 10.4 crore in Q1FY18.

Picture courtesy: www.niit.com
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Picture courtesy: www.niit.com

SI Reporter Mumbai
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.