Shares of skills and talent development company NIIT on Thursday climbed nearly 5 per cent after the company posted a multifold rise in consolidated net profit at Rs 209.3 crore for the September quarter.
The scrip jumped 4.29 per cent to close at Rs 89.90 on the BSE. During the day, it zoomed 7.88 per cent to Rs 93.
At the NSE, it rose 4.70 per cent to close at Rs 90.15.
In terms of traded volume, 2.33 lakh shares were traded on the BSE and over 24 lakh shares on the NSE during the day.
The rise in profit was mainly driven by reversal of tax provisions and earnings from divestment of NIIT Technologies shares.
The company had registered a profit of Rs 25.9 crore in July-September 2018-19.
NIIT saw its net revenue grow by 5 per cent to Rs 236.5 crore in the quarter under review from Rs 226 crore in the year-ago period.
Disclaimer: No Business Standard Journalist was involved in creation of this content
