NIIT hits over 13-year high on healthy March quarter results

Shares of NIIT rose 9 per cent to hit an over 13-year high of Rs 241.75 on the BSE in intra-day trade on Monday, surging 29 per cent in three days, after the company reported a healthy set of March quarter (Q4FY21) numbers. The stock of the IT training services provider was trading at its highest level since September 2007.

The company’s revenues increased 9 per cent quarter-on-quarter (QoQ), up 30 per cent year-on-year (YoY), to Rs 275.5 crore, mainly led by 8 per cent QoQ growth in corporate learning group (CLG) and 12 per cent QoQ growth in Skills & Careers Group (SNC). EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin improved from 18.4 per cent in Q3FY21 to 24.9 per cent in Q4FY21 on account of 570 bps QoQ improvement in CLG and profits in SNC. Profit after tax increased 11.3 per cent QoQ to 51.3 crore.