NIIT posts Q1 net loss of Rs 6.94 cr

NIIT posts Q1 net loss of Rs 6.94 cr

28/07/2017 13:25

NIIT has said that its net loss, on a stand-alone basis, during the quarter stood at Rs 6.94 crore as compared to net loss of Rs 13.05 crore in the previous year quarter.

Net revenue of the company declined marginally by 2.23 per cent at Rs 83.28 crore for the quarter ended June 30, 2017 as against Rs 85.18 crore in the corresponding period last year.

During Apr-Jun quarter, operating expenses dropped by 4.72 per cent to Rs 87.26 crore from Rs 91.58 in year ago period.

Other Income grew by 54.63 per cent at Rs 8.01 crore versus (Jun’16 Rs 5.18 crore).

Operating Profit slipped by 37.81 per cent to Rs -3.98 crore as against Rs -6.40 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 36.35 per cent in Jun quarter.

Interest declined by 7.10 per cent y-o-y to Rs 5.10 crore, while Taxation decreased by 28.57 per cent at Rs 0.05 crore (Jun’16 Rs 0.07 crore).

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