Ed-tech stock held by Ace Investor Ashish Kacholia which is India’s leading skill and talent development corporation jumped 10 percent in the day’s after it declared its quarter ended September (Q2FY24) results and declared an Interim dividend of Rs. 0.50 per share.
At the day’s closing the shares of NIIT Limited were trading at Rs. 127.85 per share up 9.98 percent from its previous day close price and its market capitalization is Rs. 1,726 Crores.
As per the company’s filing, NIIT Limited has declared its quarter ended September (Q2FY24) results and an Interim dividend of Rs. 0.50 per share
The company’s revenue declined 13.44 percent YoY from Rs. 94.04 Crores in Q2FY23 to Rs. 81.40 Crores in Q2FY24 and it grew 30.15 percent QoQ from Rs. 62.54 Crores in Q1FY24 to Rs. 81.40 Crores in Q2FY24.
Its Net Profit grew 53.58 percent YoY from Rs. 6.98 Crore in Q2FY23 to Rs. 10.72 Crores in Q2FY24 and it grew 317.12 percent QoQ from Rs. 2.57 Crore in Q1FY24 to Rs. 10.72 Crores in Q2FY24.
In addition to this the board of directors of the company have declared an Interim Dividend of Rs. 0.50 per equity share and it has fixed November 10, 2023 as the record date.
In June 2018 was when Ashish Kacholia took a fresh stake in the company and as of September 2023, he holds 25,00,000 equity shares which is 1.86 percent stake in the company.
The company’s revenue grew 36.15 percent from Rs. 250.84 Crores in FY22 to Rs. 341.51 Crores in FY23, accompanied by decreasing profits of Rs. 226.2 Crores to Rs. 3.18 Crores.
It has reported a return on equity (ROE) of 0.31 percent and a return on capital employed (ROCE) of 1.79 percent, its profitability ratios have gone down due to decrease in its net profit margins.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 34.81 percent stake, the Domestic Institutional Investors hold 12.74 percent and the Foreign Institutional Investors (FII) hold 18.77 percent.
NIIT Limited is one of the leading skill and talent development corporations in India offering online and offline training, development to individuals, enterprises and institutions.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
