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NIIT Limited records Net Revenue at Rs. 227.8 Cr, up 9% YoY

Published in Education Friday, 25 January 2019 16:27

 

 

 

NIIT Limited reported its results for the third quarter ending December 31, 2018. During the quarter, the company recorded a Net Revenue of Rs. 227.8 Cr. up 9% YoY with a PAT of Rs. 19.4 Cr. EBITDA was at Rs. 20.0Cr. reflecting an Operating Margin of 9%. 

The results were taken on record at the meeting of the Board of Directors here today.

Speaking on the company’s performance during the quarter Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, "We have raised overall growth and profit trajectory with both large businesses building momentum on key parameters. The Corporate Learning business has grown 25% YoY with a stable Operating Margin. The new initiatives in Skills and Careers business including StackRoute and Talent Pipeline as a Service (TPaaS) have delivered strong performance.”

Corporate Learning Group (CLG) recorded net revenue of Rs. 161.4 Cr up 25% YoY. EBITDA was at Rs 23.4 Cr, reflecting an Operating Margin of 15%.

CLG’s focus on Life Sciences resulted in signing of two multi-year Managed Training Services contracts in this space during the quarter - one with a large Pharma company and another with one of the largest operators of hospitals in the US. 

Skills & Careers Group (SNC) recorded net revenue of Rs. 63.4 Cr in Q3.

During the quarter, Bimaljeet Singh Bhasin joined as the President - Skills and Careers Business (SNC) India Operations. Bimaljeet will be responsible for driving this vertical which focuses on providing career related learning and talent development programs to individuals and enterprises in India. 

 

Talent Pipeline as a Service (TPaaS) added two significant customers, one large bank and a large IT Services company, in the quarter.

 

StackRoute, NIIT’s deep skilling initiative added a large global Systems Integrator as a key customer for reskilling of a large number of their engineers on digital technologies using NIIT’s proprietary virtual immersive platform. A leading public sector bank awarded NIIT a large contract for on-boarding more than 2500 employees.

 

During the quarter, NIIT held the 2nd Indian edition of its international customer conference – “NIIT Confluence”, in Goa from 6th – 8th December 2018. Based on the theme "Achieving Learning Outcomes at Scale", NIIT Confluence attracted widespread participation from thought leaders and CHRO’s in the space of Learning & Development. Key speakers included HR heads and Sr. leadership from organisations like – NASSCOM, Reliance Industries, Deloitte, Accenture, KPMG, State Bank of India, Indian Overseas Bank, ICICI Prudential Life Insurance, Capgemini, Cognizant, Wipro, Tech Mahindra, ISB, and IBM among others. 

 

Commenting on the Quarter results, Sapnesh Lalla, CEO, NIIT Ltd. said, “Skills and Careers business added two significant enterprise customers and received two TPaaS mandates during the quarter. We welcome Bimaljeet Singh Bhasin as a part of NIIT senior leadership team. With his rich and diverse experience he will further spur the growth momentum.

Corporate Learning business renewed the contract with one of its largest MTS customers in addition to adding two new customers and expanding its contract with one customer, resulting in CLG’s revenue visibility growing to $ 255 Million up 28% YoY”, added Mr. Lalla.

 

MindChampion Learning Systems Limited (MLSL) registered net revenue of Rs. 3 Cr during the quarter. It signed 64 private school contracts in Q3.

During the quarter, MLSL launched a new Maths program in partnership Marshal Cavendish Education – a leading national and regional provider of K-12 educational solutions in Singapore

MLSL organised Principals’ Symposiums for principals from over 100 leading schools to highlight the importance of 21st-century learning skills in the school curriculum.

 

Other highlights:

 

•StackRoute – NIIT’s deep skilling initiative on digital technology, won the 'Leading Innovative Learning Partner for Enterprises' award at Dataquest Digital Leadership Conclave & Awards 2018.

•Announced 27th Bhavishya Jyoti Scholarship (BJS) for Graduates and Under Graduates.

•NIIT ranked among TrainingIndustry.com’s 2018 Top 20 Companies in Gamification and IT Training

•Awarded three 2018 Learning Technologies UK awards jointly with customers – two with Shell and one with Westfield Insurance

 

 

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