NIIT’s net profit jumps 78% to Rs 51.4 cr in June quarter; revenue up 49%

NIIT Ltd on Friday said it has logged 78 per cent year-on-year jump its net profit to Rs 51.4 crore for the June 2021 quarter, and that the “war for talent” in the IT industry presents strong growth opportunity for the skills and talent development firm.

The company had posted a net profit of Rs 29 crore in the April-June 2020 period.

Its revenue in April-June 2021 rose 49 per cent to Rs 301 crore, from Rs 201.8 crore in the year-ago period.

NIIT’s EPS (earnings per share) stood at Rs 3.8 at the end of the June 2021 quarter.

“In a highly volatile and uncertain environment that we went through during the last quarter, I think the company has demonstrated an exceptional performance, both in terms of growth and profitability,” NIIT Vice-Chairman and MD Vijay K Thadani said in a virtual briefing.