India's NIIT down on surge in quarterly expenses

NIIT

28/10/2022 09:54

** Shares of information technology services co NIIT Ltd
 NIIT.NS  fall as much as  3.7% to an over-a-year low at 271
rupees 
    ** Stock posts its sharpest pct loss in over a month
    ** Co on Friday said Sept-qtr consolidated net profit slid
24.55% Y/Y to 395.6 mln rupees ($4.80 million), dragged by co's
36.8% increase in its total Y/Y expenses 
    ** Revenue from operations rose 24.28% Y/Y to 3.92 bln
rupees
    ** More than 540,000 shares traded, 1.7x their 30-day moving
avg of nearly 319,000 shares
    ** Up to last close, stock had fallen 37.7% YTD
($1 = 82.4500 Indian rupees)
 (Reporting by Yagnoseni Das in Bengaluru)
 ((yagnoseni.das@thomsonreuters.com;Mobile: +91 6001289066))