New Delhi: IT education and training company
NIIT Ltd on Monday reported a 12 percent drop in its second
quarter (ending July-September 30, 2009) net profit at Rs 26.2
crore on the year-on-year basis.
The company had posted Rs 29.7 crore net profit in the
same quarter last fiscal.
"The company's consolidated revenues were up 19 percent
year-on-year at Rs 555 crore," NIIT Ltd chairman Rajendra
Pawar said.
The decline in the net profit was due to forex
volatility, he added.
The board of the company has approved raising Rs 230
crore through QIP (Qualified Institutional Placement).
Bureau Report
First Published: Monday, October 26, 2009, 16:02