NIIT Tech zooms on Q3 numbers

DALAL STREET SPIKES

NIIT Technologies spurted over 9.6 per cent to close at Rs 341 on volumes of over 8 lakh shares, powered primarily by its strong financial performance in the December quarter wherein the company's net profit rose a phenomenal 92 per cent to Rs 34.60 crore while revenue rose 46 per cent to close at Rs 251.5 crore.

NIIT Technologies is focussed on three industry verticals: financial services, transportation, and retail.

In May 2006 the company had acquired a majority stake in ROOM solutions, a $25 million, UK-based insurance solutions provider, which helped it by expanding margin.