NIIT Q2 results: Net profit at Rs 26 crore

NEW DELHI: Skills and talent development company NIIT Ltd on Friday posted a consolidated net profit of Rs 26 crore for the September quarter.

The company had registered a net profit of Rs 209.3 crore in the year-ago period. The numbers are not comparable as NIIT had a treasury income from divestment of shareholding in NIIT Technologies Ltd and a MAT (Minimum Alternate Tax) reversal that had contributed towards the higher PAT (Profit After Tax) in the July-September 2019 quarter.

The company’s net revenue was at Rs 218.9 crore in the September 2020 quarter. On a sequential basis, the net revenue was higher by 8 per cent.

“The organisation demonstrated tremendous resilience to strengthen its market position and improve operational efficiency, while accelerating the pace of digital transformation in all aspects of the business,” NIIT Vice Chairman and Managing Director Vijay K Thadani said.