Comments
NIIT Ltd today posted a 70 per cent jump in consolidated net profit at Rs 30.2 crore for the fourth quarter ended March, riding on the back of new contracts.
Net revenue of the training and skills development company rose 51 per cent to Rs 361.5 crore in January-March of 2016-17 compared to the year-ago period.
For the full year, net profit slid 3 per cent to Rs 65.1 crore due to forex losses amounting to Rs 7.5 crore. Revenue grew 18 per cent year-on-year to Rs 1,187.7 crore in 2016-17.
NIIT Ltd CEO Rahul Patwardhan said during the year, the company invested in the renewal and growth phase of its transformation strategy.
“We delivered a strong operational performance for Q4 and FY17 in spite of significant turbulence due to demonetisation and forex loss,” he said.
The company’s revenue from the corporate learning group grew 90 per cent to Rs 257.8 crore and saw an addition of two new managed training services or MTS customers.
“We added two new MTS clients this quarter, renewed one existing contract and received a letter of intent for three more global clients,” NIIT CEO-designate Sapnesh Lalla said in a statement.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.