Categories Earnings, Others, Research Summary

NIIT Limited Q3FY23 Earnings Story

NIIT was founded in 1981 to aid the emerging IT industry in overcoming the challenges it faced in human resources. It is currently a prominent skills and talent development organization that is creating a labor market to meet demands of the international business community.

Financial Results:

Mainly on account of acquisitions that NIIT Ltd. made in the United States, in Q3 ended December 31, 2022, the company reported almost flat consolidated net profit at INR 55 crore. In the same year-ago period, the company had reported a net profit of INR 54.9 crore.

According to the management, the economy will remain unstable for the upcoming quarters, but the company will use its CLG division and commercial expansion into new regions to lessen the impact.

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