NIIT TECHNOLOGIES Plunges by 15%; BSE IT Index Down 7.3%
March 23, 2020 10:18 AM

NIIT TECHNOLOGIES share price has plunged 15% and is presently trading at Rs 1,085.

Meanwhile, the BSE IT Index is at 11,599 (down 7.3%).

Among the top losers in the BSE IT Index today are NIIT TECHNOLOGIES (down 14.7%) and L&T INFOTECH LTD (down 13.6%).

Over the last one year, NIIT TECHNOLOGIES has moved down from Rs 1,330 to Rs 1,085, registering a loss of Rs 245 (down 18.4%)..

The BSE IT has moved down from 15,266 to 11,599, loss of 3,667 points (down 24.0%) during the last 12 months.

The top gainers among the BSE IT Index stocks during this same period were [param_historic_top3].

What About the Benchmark Indices?

The BSE Sensex is at 27,901 (down 10.0%).

In the meantime, NSE Nifty is at 8,159 (down 9.6%).

Over the last 12 months, the BSE Sensex has moved down from 38,387 to 27,901, registering a loss of 10,486 points (down 29.86%).

NIIT TECHNOLOGIES Financial Update...

NIIT TECHNOLOGIES net profit stood at Rs 1 billion for the quarter ended December 2019, compared to a profit of Rs 1 billion a year ago. Net Sales rose 10.5% to Rs 10.7 billion during the period as against Rs 9.7 billion in October-December 2018.

For the year ended March 2018, NIIT TECHNOLOGIES reported 4.9% increase in net profit to Rs 3.1 billion compared to net profit of Rs 2.9 billion during FY17.

Revenue of the company grew 6.8% to Rs 30 billion during FY18.

The current Price to earnings ratio of NIIT TECHNOLOGIES, based on rolling 12 month earnings, stands at 13.0x.