NIIT reports 97 pc fall in Q4 profit at Rs 60 lakh

Skills and talent development leader NIIT Ltd on Thursday reported a profit of Rs 60 lakh in the quarter ended March, down 97 per cent from Rs 23 crore in Q4 FY19.

The net revenue fell by 4 per cent to Rs 211 crore in Q4 FY20 from Rs 219 crore in the same period of previous fiscal.

For the entire fiscal FY20, however, the profit after tax was Rs 1,328 crore which included gains on the divestment of stake in NIIT Technologies.

The FY20 revenue totalled Rs 889 crore, up 3 per cent year-on-year with EBITDA margin at 10 per cent.

The company had a cash balance of Rs 1,209 crore at the end of the financial year. The board of directors recommended 100 per cent dividend at Rs 2 per share for FY20. This follows an interim dividend of Rs 8 per share declared in February.

In response to the COVID-19 pandemic, NIIT developed a set of actionable roadmaps, toolkits and packaged services to help learning and development orgsations minimise the disruption caused due to accelerating impact of the crisis. "Agile response and decisive strategic actions resulted in containment of adverse effect and yet enabled the orgsation to leverage the massive digital learning opportunity through NIIT Digital," said Vice Chairman and Managing Director Vijay Thad.

( With inputs from ANI )