Shares of this small-cap stock jumped 12 percent during the last trading minutes on Wednesday after the company announced robust results for Q3FY23–24, i.e., for the quarter ended December 2023.
With a market capitalization of Rs 6,378.93 crores, the stocks of NIIT Learning Systems Limited started their trading session on Wednesday at Rs 421.60 and closed at Rs 472.20, gaining around 12 percent compared to the previous closing levels of Rs 420.90 apiece.
Such bullish stock price movements were observed today after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced the financial results for the quarter ended December 2023.
During the recent financial quarters, the company reported a jump in both the prime indicators of business, viz, operating revenues as well as after-tax profits with the former taking a shift from Rs 382 crores during Q2FY24 to Rs 391 crores during Q3FY24, and the after-tax profits, during the same period, rising from Rs 47 crores to Rs 57 crores.
Moreover, the company, yearly, reported an increase in both metrics mentioned above with the operating revenues rising from Rs 363 crores during Q3FY23 to Rs 391 crores during Q3FY24, and the latter, keeping the timeframe the same, shifted from Rs 46 crores to Rs 57 crores exhibiting an increase of 24 percent.
According to the latest shareholding data available for the quarter ended December 2023, the company’s Promoters hold a 34.73 percent stake, and the Public (retail) investors hold a 31.15 percent stake in the company.
According to the latest shareholding data of the company, Mr. Ashish Kacholia, one of the well-known ace investors based in India, has recently entered into the stocks, i.e., in July 2023. As per the December 2023 quarter, he holds 30 lakh equity shares equating to a 2.22 percent stake.
Incorporated in 2001, NIIT Learning Systems Limited offers managed training services in various regions covering Asia, Europe, North America, and Oceania. The company’s training services include learning administration, content and curriculum design, strategic sourcing, learning delivery, consulting, learning technology, and advisory services.
Written by Amit Madnani
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