NIIT on Monday reported a 19 per cent increase in its revenue at Rs. 555.60 crore in the second quarter of the current fiscal, though its net profit dipped by 12 per cent to Rs. 26.20 crore due to higher depreciation in company operations and foreign exchange volatility in the share of associates’ profits.
According to Chairman Rajendra S. Pawar, “A healthy revenue growth was achieved through aggressive actions in India and other emerging economies, while U.S. and Europe faced challenges.” The board of the company has approved raising Rs. 230 crore through QIP (qualified institutional placement).
In the second quarter, NIIT’s India enrolments increased by 8 per cent driven by the introduction of new programmes. In international markets, it further strengthened its position with the announcement of its university tie-up in Nigeria, successful commencement of training programmes in South Africa, launch of additional PPP centres in China and the scholarship drive in Nigeria and Vietnam.
