NIIT net up 102 percent in Q2

New Delhi, Oct 21 (IANS) IT skills and talent developer NIIT Ltd has posted net profit of Rs.20.8 crore for second quarter (July-September) this fiscal (2015-16), registering a whopping 102 percent growth over Rs.10.3 crore in like period year ago.

The Gurgaon-based IT training firm said in a statement here on Wednesday that its consolidated revenue, however, grew five percent only to Rs.272.5 crore for the quarter under review (Q2) from Rs.260.4 crore in same period a year ago.

“Corporate learning group contributed 16 percent to the revenue,” the company noted.

Earnings before income tax, depreciation and amortization (Ebitda) increased 39 percent year-on-year (YoY) to Rs.25.2 crore though operating margin grew marginally 230 basis points to nine percent from seven percent a year ago.

“The business transformation programme contributed to the second quarter numbers. Secondly, the technology transformation renewal phase has begun six months ahead of schedule,” NIIT chief executive Rahul Patwardhan said.

“We look forward to improving revenue growth, profitability and technology transformation,” he said.

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