NIIT Tech Q2 net dips 12.4%

NIIT Technologies on Monday, reported a 12 per cent fall in its profit after tax to Rs 32.1 crore for the second quarter ended September, due to volatility in currency movement.
The consolidated revenues of the company also declined by 12 per cent to Rs 226.3 crore in the latest quarter from Rs 258.7 crore in the same period last year, NIIT Tech said.

The drop in revenue could be attributed to forex losses of Rs 15.4 crore that have been reduced from the revenues, NIIT Tech Chief Executive Officer Arvind Thakur told reporters here.

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