NIIT Ltd Sees Decline in Q3 Profit Despite Revenue Surge
NIIT Ltd reported a 6.75% drop in net profit for Q3 2024-25, amounting to Rs 13.39 crore, compared to Rs 14.36 crore in the same period last year. The company's revenues, however, rose 15.19% due to strategic client base expansion, amid a volatile hiring environment.
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NIIT Ltd, a skills and talent development firm, has announced a 6.75% decrease in consolidated net profit for the December 2024 quarter, bringing its profit down to Rs 13.39 crore.
This decline, reported in a regulatory filing, contrasts with the Rs 14.36 crore profit posted in the same period of FY24. Despite this, NIIT saw its revenue from operations increase by 15.19% to Rs 98.11 crore in Q3 FY25, up from Rs 85.17 crore in Q3 FY24.
The growth in revenue was attributed to swift actions to expand its client base to include GCCs, Tier II GSIs, large private sector banks, and leading Indian enterprises. Vijay K Thadani, Vice Chairman and Managing Director, noted the volatile hiring environment, stressing adaptability as key to the company's continuing success.
(With inputs from agencies.)
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