Hold NIIT Technologies; target of Rs 1416: Arihant Capital

Arihant Capital's research report on NIIT Technologies

NIIT Technologies came out with good set of numbers, ahead of our estimates. PAT for the quarter grew 22.5% YoY to Rs 1055 mn against our estimate of Rs 960 mn, revenue stood at Rs 9722 mn (+23.3% YoY) slightly below our estimate of Rs 1025 mn, while EBITDA came at Rs 1715 mn (+18.3% YoY) ahead of our estimate of Rs 1620 mn.

Outlook

We are positive on the stock from longer term perspective, and recommend Hold with a revised target price of Rs 1416.

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