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NIIT says forex volatility led to muted growth in Q3 net profit

Updated : January 24, 2019 05:20 PM IST

Skills and talent development firm, NIIT Ltd, on Thursday said forex volatility led to a muted growth in Q3 net profit.

In an interview to CNBC-TV18, Vijay Thadani, vice-chairman and managing director, said, "Q3 is the second consecutive quarter of double-digit growth of around 9-10 percent after 4-5 quarters. The operating margins have also grown at 9 percent."

"We are emerging at the end of the quarter with stronger balance sheet. Our operating return on capital employed (RoCE) is up to 14.8 percent and net-debt levels are down. So liquidity, profitability as well as the deal momentum is high,” said Thadani.

The company reported said its consolidated net profit has declined 1.5 percent to Rs 19.4 crore in the December 2018 quarter. The company had posted a net profit of Rs 19.7 crore in October-December 2017, NIIT said in a statement. Its consolidated net revenue grew 8.7 percent to Rs 227.8 crore in the reported quarter from Rs 209.4 crore in the year-ago period.
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