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Shares of information technology (IT) training services companies NIIT Ltd and Aptech Ltd has rallied more than 10 per cent on the BSE in intra-day trade on Tuesday, in an otherwise range-bound market, on the back of heavy volumes. These stocks were trading at their multi-year high levels on the bourses.
Among the individual stocks, NIIT rose 17 per cent to hit an over 13-year high of Rs 295.50 on the BSE in intra-day trade on Tuesday. In the past three days, the scrip has rallied 49 per cent after the company reported a healthy set of March quarter (Q4FY21) numbers. The stock was trading at its highest level since August 2007. The trading volumes on the counter jumped five-fold with a combined 12.33 million shares have changed hands on the NSE and BSE till 12:29 pm. In comparison, the S&P BSE Sensex was down 0.20 per cent at 52,222 points at the same time.
In Q4FY21, NIIT’s revenues increased 9 per cent quarter-on-quarter (QoQ), up 30 per cent year-on-year (YoY), to Rs 275.5 crore. EBITDA (earnings before interest, taxes, depreciation, and amortization) margin improved from 18.4 per cent in Q3FY21 to 24.9 per cent in Q4FY21 on account of 570 bps QoQ improvement incorporate learning group (CLG) and profits in the skills & careers group (SNC). Profit after tax increased 11.3 per cent QoQ to 51.3 crore.
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The company recorded an exceptionally strong quarter of revenue growth and profitability owing to sustained business development, digital transformation, and optimized business operations. The management said the corporate business continues to accelerate. The investment in the digital transformation of the business has created new opportunities for growth and improvement in profitability, it added.
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