NIIT Technologies shares jump 19.53 pc after Q4 earnings

Shares of NIIT Technologies on Wednesday zoomed 19.53 per cent after the company reported a 11.4 per cent rise in consolidated net profit for March 2020 quarter. The company's shares rose sharply by 19.53 per cent to close at Rs 1,420.50 on the BSE. During the day, it advanced 20.92 per cent to Rs 1,437.15.

On the National Stock Exchange (NSE), it zoomed 18.93 per cent to close at Rs 1,415.05.

NIIT Technologies on Tuesday reported a 11.4 per cent rise in consolidated net profit at Rs 113.6 crore for the March 2020 quarter and said strong tech capabilities and sharp execution helped the company in winning large deals.

The company had posted a net profit of Rs 102 crore in January-March 2019 quarter.

Its consolidated revenue grew 19 per cent to Rs 1,109.3 crore in the quarter under review, from Rs 931.9 crore in the year-ago period, according to a company statement.

For FY'20, net profit rose 23.2 per cent to Rs 474 crore, while revenue grew 18.5 per cent to Rs 4,180.9 crore over the previous financial year.

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"The firm recorded one of its best annual performances ever in FY'20, which has come on the back of a similarly strong performance delivered in the preceding year," NIIT Technologies CEO Sudhir Singh said.