NIIT’s Q1 net loss narrows

NEW DELHI: NIIT Ltd, Asia's largest computer trainer, has said that its consolidated net loss in the first quarter narrowed on the back of higher enrolments and a growth in its software business.

NIIT has reported an October-December consolidated net loss of Rs 86 million compared with 104 million in the previous year.

NIIT's first quarter revenue rose 12.5 percent to 1.96 billion rupees from 1.74 billion.

"There has been a 10 percent sequential growth in student enrolments to 145,065 in the first quarter," Vijay Thadani, NIIT's chief executive officer, told Reuters.

Company officials said the market was recovering and the 14-billion-rupee industry was expected to grow at 10 percent annually. They said NIIT's growth rate would outpace the sector's growth. "New areas in the industry like training for call centres are increasing the demand for our courses," said Sanjiv Kataria, NIIT's executive vice-president.

NIIT's shares closed down 2.15 percent at 143.15 rupees on the Bombay Stock Exchange, whose main index ended 1.21 percent lower.

© Reuters