NIIT Ltd today posted a 70 per cent jump in consolidated net profit at Rs 30.2 crore for the fourth quarter ended March, riding on the back of new contracts. Net revenue of the training and skills development company rose 51 per cent to Rs 361.5 crore in January-March of 2016-17 compared to the year-ago period. For the full year, net profit slid 3 per cent to Rs 65.1 crore due to forex losses amounting to Rs 7.5 crore. Revenue grew 18 per cent year-on-year to Rs 1,187.7 crore in 2016-17. NIIT Ltd CEO Rahul Patwardhan said that during the year, the company invested in renewal and growth phase of its transformation strategy.

Source: dna May 17, 2017 08:48 UTC