During the quarter, the company recorded net Revenue of Rs 218.9 crore, which was up 8 percent sequentially.
MIT already held 1.87 percent equity stake in the company as of June
Dolat Capital is bullish on NIIT has recommended buy rating on the stock with a target price of Rs 110 in its research report dated July 31, 2020.
Revenue declined by 4 percent to Rs 211.2 crore in the quarter under review from Rs 219.2 crore in the year-ago period.
The term of the agreement is 5 years.
Overseas market led by the US and Europe contributed 77 per cent of the total corporate learning group business, Thadani said.
Government may consider public private partnership model for education sector.
The Academy will offer futuristic programs in finance to fresh graduates and experienced finance professionals.
Revenue of the company grew 8 percent to Rs 239.7 crore in the quarter under review from Rs 222.8 crore in the year-ago period
NIIT Tech has made rapid strides in its business in the last few years that has seen revenue run rate accelerating, deal momentum gathering pace and operating margin improving from 14% in FY15 to 18% now.
Funds affiliated with Baring Private Equity Asia will buy about 30 percent stake in NIIT Technologies from NIIT Ltd and other promoter entities for about Rs 2,627 crore.
NIIT has entered into a managed learning services contract with Signify in this regard.