NIIT spurts on inking deal with US-based EdTech firm

NIIT rallied 7.74% to Rs 86.95 after the company said its subsidiary signed a managed services agreement with a US-based EdTech company to provide virtual services to education providers.

NIIT (USA) Inc., USA, a wholly-owned subsidiary of NIIT, has signed a managed services agreement with a US-based EdTech company to provide virtual services to education providers. The term of the agreement is 5 years. Both companies see this as a significant partnership where two market leaders go-to-market jointly to provide innovative solutions in the testing and certification marketplace. The announcement was made during market hours today, 22 April 2020.

NIIT's consolidated net profit soared 47.74% to Rs 27.14 crore on a 9.77% increase in net sales to Rs 247.56 crore in Q3 December 2019 over Q3 December 2018.

 

NIIT is a skills and talent development corporation that is building a manpower pool for global industry requirements.

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