NIIT Ltd. rises ~5% after PAT recorded at Rs209.3cr in Q2

During the quarter, the company recorded a net revenue of Rs236.5cr, up 5% yoy; EBITDA was recorded at Rs25.4cr and Operating Margin at 11%.

Oct 24, 2019 09:10 IST India Infoline News Service

NIIT
NIIT Limited, a global leader In skills and talent development, on Thursday reported results for the second quarter ending September 30, 2019.

During the quarter, the company recorded a net revenue of Rs236.5cr, up 5% yoy; EBITDA was recorded at Rs25.4cr and Operating Margin at 11%.

Profit after tax was recorded at Rs209.3cr. This includes the impact of reversal of tax provision pursuant to recent changes in income tax law, primarily related to divestment of shareholding in NIIT Technologies Limited.

The results were taken on record at the meeting of the Board of Directors held today.

The Corporate Learning Group (CLG) recorded net revenue of Rs174 Cr up 8% yoy. It added 2 new Managed Training Services (MTS) customers in Q2, taking MTS customers tally to 51. 

Speaking on the company's performance during the quarter, Mr. Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said,. "Continued improvement in performance of go forward business Is a confirmation of the opportunity NIIT is pursuing and the strength of its value proposition. We also welcome the new tax structure proposed by the Finance Minister and have, embraced the lower tax rate.

Stock View:

NIIT Ltd is currently trading at Rs90.25 up by Rs4.05 or 4.7% from its previous closing of Rs86.20 on the BSE.

The scrip opened at Rs87 and has touched a high and low of Rs93 and Rs85.50 respectively. So far 24,02,735 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs1,450.82cr.

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