NIIT net profit rises to Rs 10.6 crore in Q2

The net profit attributable to owners of the parent company stood at Rs 4.7 crore in the year-ago period, the company said on Tuesday. NIIT Vice Chairman and Managing Director Vijay K Thadani said the company has been able to achieve strong growth sequentially, driven by 69 per cent growth in enrolments and expansion across technology and BFSI customers.

NIIT Ltd reported over 125 per cent year-on-year rise in consolidated net profit at Rs 10.6 crore for the September quarter. The net profit (attributable to owners of the parent company) stood at Rs 4.7 crore in the year-ago period, the company said on Tuesday. During the quarter, the skills and talent development company recorded a net revenue of Rs 81.4 crore, up 30 per cent quarter-on-quarter and down 13 per cent year-on-year. Profit After Tax (PAT) came in at Rs 10.6 crore as compared to Rs 2.2 crore in the first quarter of the current fiscal and Rs 4.7 crore in the year-ago period. ''The board has also approved an interim dividend of Rs 0.5 per share (25 per cent on face value of Rs 2 per share),'' the company said in the release, adding that the record date for the dividend is November 10. Rajendra S Pawar, Chairman and co-founder of NIIT Group, said, ''With the accelerating pace of transformation across industries, we are excited about the opportunity ahead to recreate this impact across multiple sectors, including technology and BFSI industries.'' During the quarter, NIIT Ltd integrated Generative AI in its full stack software engineering, data science and digital marketing programs and also introduced special programs in AI to equip learners with the new-age skills required in today's fast-evolving job roles. NIIT Vice Chairman and Managing Director Vijay K Thadani said the company has been able to achieve strong growth sequentially, driven by 69 per cent growth in enrolments and expansion across technology and BFSI customers. ''The company continues to expand its reach and product portfolio, including investments in AI,'' Thadani said.