NIIT says forex volatility led to muted growth in Q3 net profit

Skills and talent development firm, NIIT Ltd, on Thursday said forex volatility led to a muted growth in Q3 net profit.

In an interview to CNBC-TV18, Vijay Thadani, vice-chairman and managing director, said, "Q3 is the second consecutive quarter of double-digit growth of around 9-10 percent after 4-5 quarters. The operating margins have also grown at 9 percent."

"We are emerging at the end of the quarter with stronger balance sheet. Our operating return on capital employed (RoCE) is up to 14.8 percent and net-debt levels are down. So liquidity, profitability as well as the deal momentum is high,” said Thadani.