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NIIT Limited achieves 73% growth in PAT

Published in Corporate Friday, 27 July 2018 17:02

 

   EBITDA up 17% YoY at Rs. 19 Cr

 

 

 NIIT Limited reported its results for the first quarter ending June 30, 2018. During the quarter, the company recorded a PAT of Rs. 17.9 Cr, up 73% YoY and Net Revenue of Rs. 214.3 Cr, up 2% YoY. EBITDA was recorded at Rs. 19 Cr, up 17% YoY on an Operating Margin of 9%, up 110 bps YoY.

 

Speaking on the company’s performance during the quarter,  Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, “NIIT’s Corporate Learning business continues to drive growth. It grew 28% YoY during the quarter, added one new MTS customer and expanded operations with an existing client. Additionally the Skills & Careers business launched pioneering career products & introduced Talent Pipeline as a Service (TPaaS).”

 

Corporate Learning Group (CLG) recorded net revenue of Rs. 150.6 Cr up 28% YoY. The revenue visibility for CLG stood at $ 224 Mn, up 17% YoY.

 

During the quarter NIIT commenced execution of a five-year long-term Learning and Development agreement with Pitney Bowes (NYSE:PBI), a global technology company providing commerce solutions that power billions of transactions. Under this significant agreement, NIIT will take over the majority of Learning and Development (L&D) activities at Pitney Bowes with the exception of leadership and managerial development.

 

This quarter NIIT was selected for the Top 20 Training Outsourcing Companies List for the eleventh consecutive year by TrainingIndustry.com. Training Industry continuously reviews companies that provide training business process outsourcing (BPO) services and conducts an annual assessment to determine suppliers' experience and capabilities.

 

Skills & Careers Group (SNC) recorded net revenue of Rs. 54.8 Cr during Q1.

 

During the quarter unveiled a series of aspirational Career Programs guided by the choices of the industry to address the changing workforce needs that digital transformation has brought forth. On offer are aspirational programs in the fast-evolving digital marketing & branding, data analytics & predictive modelling, financial services & futuristic IT streams. These programs have been designed to help undergraduates and graduates build a challenging career in the digital economy. NIIT plans to train 60,000 youth over the next 2 years in these new-age career programs.

 

NIIT also introduced Talent Pipeline as a Service (TPaaS) to develop Just-in-Time job ready talent for global organizations. TPaaS, is first-of-its-kind initiative from NIIT to ensure reliable availability of specifically skilled talent to global organizations to match the pace of expansion in today's fast changing, uncertain business environment. Through this initiative NIIT will train around 1,00,000 youth in 3 years for aspirational career opportunities in leading corporates in the IT & BFSI sectors.

 

Commenting on the Skills & Careers Group, Sapnesh Lalla, CEO, NIIT Ltd. said, “NIIT has announced 4 key initiatives in the Skills & Careers business. Each has gained momentum in Q1. TPaaS has 8 mandates from key customers. StackRoute and Training.com are gaining traction with customers and the new career programs have shown encouraging early offtake.”

 

MindChampion Learning Systems Limited (MLSL) registered net revenue of Rs. 8.8 Cr during the quarter and added 123 school contracts.

Other highlights:

 

•StackRoute – NIIT’s deep skilling initiative on digital technology, has won the 'Most Innovative Learning Partner for Enterprises' award at Times Ascent - National Award for Excellence in Training & Development

•NIIT announced 19th National Scholarship in Nigeria to reward meritorious students in Nigeria desirous of building successful careers in today's digital economy

 

 

Last modified on Friday, 27 July 2018 17:08

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