NIIT Ltd Sees Decline in Profit Amid Revenue Growth

Skills and talent development firm NIIT Ltd reported a decline in net profit by 6.75% to Rs 13.39 crore for the December 2024 quarter, despite a 15.19% rise in revenue. The company is focusing on expanding its client base to adapt to a volatile hiring environment.

Skills and talent development firm NIIT Ltd reported a 6.75% decline in its consolidated net profit, amounting to Rs 13.39 crore for the December 2024 quarter, as per a regulatory filing.

In contrast, the firm's revenue from operations surged by 15.19% to Rs 98.11 crore for Q3 FY25, compared to Rs 85.17 crore in Q3 FY24. This growth was attributed to NIIT's strategic efforts to broaden its client base, which now includes GCCs, Tier II GSIs, and major private sector banks within India.

Despite the volatile hiring environment, the company remains committed to adapting to market changes, according to NIIT Vice Chairman and Managing Director Vijay K Thadani. On the stock market, shares of NIIT fell by 1.20% to Rs 165.15 on Friday.

(With inputs from agencies.)