NIIT net up 41% at Rs30 crore

NIIT net up 41% at Rs30 crore

Mumbai: IT learning solutions provider NIIT Ltd today posted a profit after tax of Rs29.70 crore for the second quarter ended 30 September, a 41% growth over the corresponding period a year ago.

The firm had a net profit of Rs21.10 crore in the second quarter of FY08, NIIT Ltd said in a filing to the Bombay Stock Exchange.

The net revenue rose by 15% to Rs309.50 crore in the quarter under review, from Rs270.20 crore in the same period last fiscal.

“New initiatives and products contributed to a robust growth of 17% in global system-wide revenue," NIIT Ltd CEO Vijay K Thadani said.

On a standalone basis NIIT Ltd reported a net profit of Rs21.25 crore for the September quarter, while its net sales stood at Rs152.78 crore.

Shares of NIIT were trading at Rs33.60, up 10.89% late afternoon trade on the BSE.