NIIT Technologies gains 6% on healthy Q2 results

The stock moved higher by 6% to Rs 1,214 after the company reported a strong 29% sequential growth in its consolidated net profit at Rs 1,167 million in Q2FY19.

Shares of NIIT Technologies has moved higher by 6% to Rs 1,214 on the BSE in an otherwise subdued market after the company reported a strong 29% sequential growth in its consolidated net profit at Rs 1,167 million in September quarter (Q2FY19). The information technology company had reported a profit of Rs 904 million in the same quarter last fiscal.

Revenue during the quarter under review grew 10% at Rs 9,074 million over the previous quarter. Operating profit margins expanded by 217 bps quarter-on-quarter (q-o-q) to 18% from 15.8% in June quarter.

“The extremely robust 10% sequential revenue growth