NIIT Q2 net dips 12% to Rs26.2 cr

NIIT Q2 net dips 12% to Rs26.2 cr

New Delhi: IT education and training company NIIT Ltd reported a 12% drop in its second quarter (ending July-September 30, 2009) net profit at Rs26.2 crore on the year-on-year basis.

The company had posted Rs29.7 crore net profit in the same quarter last fiscal.

“The company’s consolidated revenues were up 19% year-on-year at Rs555 crore," NIIT Ltd chairman Rajendra Pawar said.

The decline in the net profit were due to forex volatility, he added.

The board of the company has approved raising Rs230 crore through QIP (Qualified Institutional Placement).