NIIT Limited Announces Q3 (October – December 2019) Consolidated Results
New Delhi, Delhi, India:
- PAT grows 40% YoY, at Rs. 27.1 Cr; EPS up 65% YoY
- Records Net Revenue at Rs. 247.6 Cr, up 10% YoY
- EBITDA up 10% YoY at Rs. 24.6 Cr
- Corporate Learning Group (CLG) grows 17% YoY
- CLG adds 2 new MTS customers; CLG revenue visibility grows to $265 Mn up 4% YoY
Consolidated Financials for Quarter ended December 31, 2019
|(in Rs. Crore)||Quarter ended
December 31, 2019
December 31, 2018
|Profit After Tax||27.1||19.4||40%|
NIIT Limited reported its results for the third quarter ending December 31, 2019. During the quarter, the company recorded a Profit After Tax of Rs. 27.1 Cr, up 40% YoY and Net Revenue of Rs. 247.6 Cr, up 10% YoY. EBITDA was recorded at Rs. 24.6 Cr, up 10% YoY. Operating Margin stood at 10%.
The results were taken on record at the meeting of the Board of Directors held today.
Speaking on the company’s performance, Mr. Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, “During the quarter, NIIT delivered strong Profit After Tax of Rs. 27.1 Cr, up 40% YoY, backed by a robust growth of 17% YoY in Corporate Learning Group.”
Corporate Learning Group (CLG) recorded net revenue of Rs. 189.5 Cr up 17% YoY. It added 2 new Managed Training Services (MTS) customer in Q3.
Commenting on the quarter performance, Sapnesh Lalla, CEO, NIIT Ltd. said, “Corporate Learning Group acquired 2 new MTS customers, resulting in an increased revenue visibility of $265 Mn. Our key initiatives in India, StackRoute and TPaaS combined grew 11% YoY.”
Skills & Careers Group (SNC) recorded net revenue of Rs. 54.4 Cr during Q3.
NIIT held the 3rd India edition of its international customer conference – NIIT Confluence – in Goa from November 13-15, 2019. Based on the theme ‘Performance Matters – The Role of Learning in Transformative Growth’, Confluence India attracted widespread participation from thought leaders and CHROs in the space of Learning & Development from organisations like – INDwealth, Reliance Industries, Reliance Jio, Vodafone Idea, IBM, Capgemini, KPMG, ICICI Bank, Yes Bank, CGI, Wipro Digital, Infosys, Cognizant, JP Morgan Chase & Co., and Automation Anywhere.
Share buyback update
During the quarter, the company completed buyback of 2.68 crore equity shares after approval from the shareholders of the company at Rs. 125 per share, representing approximately 16% of the total paid up equity share capital for an aggregate amount of Rs. 335 crore, exclusive of taxes.
- NIIT won the ‘Vocational & Skill Development Training Institute’ award under Education Category at the 17th Franchise Awards 2019
- NIIT earned 37 coveted Brandon Hall Group HCM Excellence awards jointly with customers. The company was named a top winner for 2019
- NIIT bagged seven 2019 Brandon Hall Excellence in Technology Gold awards jointly with MetLife for MetLife Distribution Academy
- NIIT was accredited by the Learning & Performance Institute, UK
NIIT is a leading Skills and Talent Development Corporation that is building a manpower pool for global industry requirements. The company, which was set up in 1981 to help the nascent IT industry overcome its human resource challenges, today ranks among the world’s leading training companies owing to its vast and comprehensive array of talent development programs. With a footprint in over 30 countries, NIIT offers training and development solutions to Individuals, Enterprises and Institutions. NIIT has three main lines of business across the globe – Corporate Learning Group, Skills & Careers Business and MindChampion Learning Systems Limited.
NIIT’s Corporate Learning Group (CLG) offers Managed Training Services (MTS) to market-leading companies in North America, Europe, Asia, and Oceania. The Skills & Careers Business (SNC) delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in areas including Digital Transformation, Banking, Finance & Insurance, Soft Skills, Business Process Excellence, Retail Sales Enablement, Management Education, Multi-Sectoral Vocational Skills, Digital Media Marketing, and new-age IT. As NIIT’s wholly owned subsidiary for its K-12 school learning initiative – MindChampion Learning Systems Limited (MLSL), provides curriculum based holistic range of education learning solutions to private schools in India under the nGuru brand. The product portfolio includes technology-driven classroom solutions, labs, assessment solutions, career guidance and counselling programs, and courseware solutions for IT, Maths, Science and English. As the Most Trusted Training Brand in India for 5th year in a row (Brand Trust Report, 2017), NIIT’s learning and talent development solutions, continue to receive widespread recognition globally. NIIT has been named among the Top 20 Training Outsourcing Companies for the past eleven consecutive years by Training Industry, Inc. USA. Further, leading Indian ICT journal Dataquest has conferred upon NIIT the ‘Top Training Company’ award successively for the past 20 years, since the inception of this category. NIIT has also been featured as the ‘Most Respected Education Company’- 2016 by leading financial magazine, Business World.