Shares of NIIT hit a multiyear high of Rs 431.15 after they rallied 9 per cent on the BSE in Tuesday's intra-day trade on the back of heavy volumes. In the past one week, the stock of the information technology (IT) training services company has zoomed 41 per cent after it reported a strong set of numbers for the quarter ended September 2021 (Q2FY22). In comparison, the S&P BSE Sensex was up 0.20 per cent during the same period. The stock had hit a record high of Rs 507 on January 4, 2000.
Trading volumes on the counter nearly doubled, with a combined 3.3 million equity shares having changed hands on the counter on the NSE and BSE till 11:28 am.
For Q2FY22, NIIT had reported a more-than-double or 101 per cent year on year (YoY) rise in its consolidated net profit at Rs 52.4 crore on the back of strong operational performance. Revenue grew 44 per cent YoY at Rs 314 crore while earnings before interest, taxes, depreciation, amortization (ebitda) margins improved 780 basis points at 23.5 per cent.
The company's corporate learning group (CLG) posted revenue growth of 40 per cent YoY and Ebitda margin of 29 per cent. CLG singed 6 new MTS contracts, highest addition in a quarter. NIIT said it ends the quarter with 63 MTS customers and revenue visibility at $294 million.
The company acquired majority stake in RPS Consulting Private Limited, a leading provider of training programs on emerging digital technologies for experienced technology professionals, specifically addressing the needs of Global System Integrators and Capability Centers of large multinational companies. The transaction was closed on October 1, 2021.
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