Shares in NIIT Technologies slump more than 7 per cent on Wednesday, adding to Tuesday's 11.8 per cent fall after company's April-June profit halved to Rs 44.82 crore ($7.46 million) due to spending cuts at two major US-based clients.
Shares in NIIT Technologies slump more than 7 per cent on Wednesday, adding to Tuesday's 11.8 per cent fall after company's April-June profit halved to Rs 44.82 crore ($7.46 million) due to spending cuts at two major US-based clients.
"US geography had a setback when two clients in the BFSI (Banking, financial services and insurance) segment scaled down their business impacting overall growth in the region," the company said in statement on Tuesday.
Copyright: Thomson Reuters 2014
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