Shares of NIIT Technologies traded lower in Wednesday’s trade after the latest shareholding data on Tuesday showed that institutional investors offloaded some stake in the company during the April-June period.

Mutual funds held 5.53 per cent stake in the company as of June 30 against 6.17 per cent in the preceding quarter ended March 31. Holdings of HDFC Smallcap Fund declined to 2.57 per cent from 4.38 per cent during the period. On the other hand, Axis Mutual Fund increased stake in the company to 2.10 per cent stake against 1.36 per cent earlier.

Foreign portfolio investors held 13.99 per cent stake in the company as of June 30 against 14.49 per cent in March quarter.

The scrip traded 0.67 per cent down at Rs 1,503 at around 10 am (IST), while the benchmark BSE Sensex 0.12 per cent higher at 36,717 at around the same time.

The IT company in May reported 11.4 per cent rise in consolidated net profit to Rs 113.6 crore for the March 2020 quarter and said strong tech capabilities and sharp execution helped the company in winning large deals.

The company had posted a net profit of Rs 102 crore in January-March 2019 quarter, NIIT Technologies said in a statement.

Its consolidated revenue grew 19 per cent to Rs 1,109.3 crore in the quarter under review from Rs 931.9 crore in the year-ago period, it added.