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 Q1 (April - June 2020) |
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| Insight@NIIT:Vol 47 |
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| Investor Communication |
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| NIIT Limited announces Q1 (April - June 2020) Consolidated Results |
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Vijay K Thadani
Vice Chairman & Managing Director, NIIT Limited |
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| “Agile and decisive actions on strategy and cost control helped the company to garner new revenue opportunities and recover profitability which had declined sharply in the previous quarter.” |
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Revenue recorded at Rs. 201.8 Cr, PAT at Rs. 29.0 Cr. |
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EBITDA margin recovers to 12.1% after a sharp decline in Q4 |
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CLG records revenue growth of 17% YoY with EBITDA margin of 17% |
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Adds 3 new MTS logos, taking revenue visibility to $263 Mn |
*On a like to like basis, after excluding one-time capital gain on divestment in Q1 FY20
NIIT Limited reported its results for the first quarter ending June 30, 2020. During the quarter, the company recorded a Net Revenue of Rs. 201.8 Cr. EBITDA was Rs. 24.3 Cr. and the EBITDA margin stood at 12.1%. Profit After Tax was recorded at Rs. 29 Cr.
The results were taken on record at the meeting of the Board of Directors held today.
Corporate Learning Group (CLG) recorded net revenue of Rs. 178.5 Cr, up 17% YoY. CLG added 3 new managed training services contracts (Including 2 Lifesciences customers and 1 Global Leader in Social Media) and expanded its relationship with one existing client. The number of MTS customer tally stands at 55 and Revenue Visibility at the end of the quarter was at $ 263 million.
During the quarter NIIT extended its partnership with a leading global clinical research and Human Data Sciences company for another five years. NIIT will continue to provide a full range of managed learning services, covering training delivery, consultancy, and content design and development.
During the quarter, NIIT ranked among the Top 20 Training Outsourcing Companies, 2020. NIIT has been ranked amongst Top 20 for thirteen consecutive years.
Skills & Careers Group (SNC) recorded net revenue of Rs. 23.3 Cr during Q1. The India business growth for the quarter was driven by NIIT digital platform and StackRoute business. SNC has transitioned its customers to the NIIT Digital platform and through this, learners are able to access their learning plans and all associated content and services digitally.
During the quarter NIIT announced that it has specially designed and launched the NIIT ‘Remote Work Excellence Kit’ course to support India’s fight against COVID-19. StackRoute™, an NIIT venture announced the launch of ‘Post Graduate Program in Full Stack Product Engineering’ for fresh engineering graduates and young professionals.
For the quarter, NIIT also announced virtual ‘FutureReady Fest’, an initiative to encourage students to enhance their knowledge on new-age skills through future ready programs, together with their regular studies and academic curriculum.
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NIIT announces virtual ‘FutureReady Fest’ – a nationwide initiative to empower students for Jobs of the Future |
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- The virtual #FutureReady Fest will deliver exclusive webinars and panel discussions on latest trends in IT, BFSI, Digital marketing and data analytics
- To offer free courses and online classes for trending programmes
NIIT Limited announced virtual ‘FutureReady Fest’, an initiative to encourage students to enhance their knowledge on new-age skills through future ready programs, together with their regular studies and academic curriculum.
NIIT will organize virtual sessions on NIIT Digital, it’s online platform for students nationally, wherein industry experts will deliver sessions on new age career programmes including Full Stack Java Programming, Digital Marketing and Branding, Python Programming and Data Exploration in Python, Programme in Banking & Finance, amongst others.
During the virtual #FutureReady Fest, NIIT will also organize expert webinar sessions on trending topics including - Compliance mindset for Banking, Careers in Market research, Visual Thinking, Resume Building, SDLC Lifecycle, to help students get a peek into the careers of the future.
According to the Future of Jobs Report (World Economic Forum), jobs in digital technology will grow from 17 % in 2018 to 33 % in 2022. Estimates have indicated that 75 million jobs may be displaced by a shift in the division of labour between humans and machines, while 133 million new roles may emerge that are more adapted to this model. This demonstrates a huge requirement of skilled employees for futuristic industry 4.0 job roles.
Under the initiative NIIT is offering free Micro Programme on Digital Marketing & Branding, Information Technology, Banking and Finance, and Accounts and Analytics. These are short term programs, delivered by industry experts.
The duration of each program varies from course to course. Students can visit the www.niit.com/india/Future-Ready-Fest/ to apply for the programmes. The students will receive a participation certificate after the completion of the course.
NIIT’s ‘Future Ready Talent’ is an initiative where seminars are held nationally along with Industry deliberations & conferences. Successful leaders from diverse fields shared their experiences with the students, educating them about the importance of new-age future ready careers, as also deliberating what it will take for aspiring professionals to be Future Ready.
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| NIIT and Rio Tinto extend their partnership with a 5-year contract extension |
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Sailesh Lalla,
Executive Vice President, Business Development at NIIT’s Corporate Learning Group. |
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| “We truly value our partnership with Rio Tinto and are very excited that our partnership has been extended for another five years. We look forward to providing increased value and innovation over the coming years,” |
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NIIT Limited announced that it has extended its partnership with Rio Tinto, the leading global mining group for another five years.
NIIT began its relationship with Rio Tinto in 2014 and will continue to provide a full range of managed learning services, covering event management, learning administration, consultancy, on-site support, content design and development and technology services, to support Rio Tinto’s learning and business imperatives across its global sites and offices.
Rio Tinto (ASX: RIO, LON: RIO) is a leading global mining and refining group, operating in 36 countries with 47,000 employees and sales of $43 billion, producing materials essential to human progress.
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| NIIT Expands Digital Reality and Immersive Learning Solutions Practice |
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NIIT Limited announced that William V. West (Bill) and his accomplished team of digital reality professionals from Regatta VR will join NIIT (USA), Inc., effective June 1, 2020. The addition of Bill and his team strengthens NIIT’s Digital Reality and Immersive Learning Solutions practice.
As part of his new role at NIIT, Bill will be responsible for scaling up NIIT’s Digital Reality and Immersive Learning Solutions practice (including VR, AR, 360 Video, Real-time 3D) and bringing innovative solutions to NIIT’s Fortune and Global 500 customers. Bill and his team offer a unique combination of thought leadership, skills, and mastery in virtual reality training to impact organizations across industries by facilitating empathy and behavioral change through commercial grade learning solutions. “VR may have the largest impact on e-learning since the mobile phone. We now have the ability to reach levels of performance that were not previously possible, to drive real behavioral change,” says Bill. VR training solutions transport learners into worlds that allow for a new level of immersion and visceral user experience through sophisticated techniques that generate authentic context in a way that traditional training cannot.
NIIT has a strong presence in the digital reality immersive learning space including Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR). NIIT’s team of accomplished Triple-A gaming professionals develop award-winning immersive learning solutions in digital reality studios at Chicago, IL, Sheffield, United Kingdom, and Mumbai, India for Fortune and Global 500 companies worldwide. NIIT will expand both its capability and market presence in digital reality with this appointment.
Bill West has been involved in EdTech for over 30 years and is regarded as a thought leader in the e-learning industry and immersive digital reality learning space. He has been a successful entrepreneur who has founded four EdTech companies. He has earned numerous industry awards including five Inc. 5000 awards and has been featured on 60 Minutes. He founded Regatta VR in 2018, cited as one of top four VR companies by Forbes magazine.
“This strategic union will enable the Regatta team to reach its potential while building NIIT’s preeminent position as a digital realities leader in EdTech. NIIT brings strong lineage, infrastructure, and leadership and we share a common philosophical view of performance development. This is a natural fit for us, and I look forward to supporting the expansion of digital reality throughout corporate, academic, and government organizations,” said Bill West.
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| NIIT Named to Training Industry’s Top 20 Training Outsourcing Companies, 2020 |
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Sailesh Lalla,
Executive Vice President, Business Development at NIIT. |
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| “At NIIT, our goal is to help our customers run training like a business. Through our Managed Training Services offering, we provide customers a consultative approach to training outsourcing that aligns with their business goals to demonstrably transform the learner experience and deliver tangible business impact,” |
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NIIT Limited announced that it has been named to the 2020 Top Training Companies™ by Training Industry, Inc. This is NIIT’s thirteenth consecutive year of being named to this prestigious list of leading companies for the training outsourcing sector of the learning and development market.
Training Industry, the leading research and information resource for corporate learning leaders, prepares the Training Industry Top 20 report on critical sectors of the corporate training marketplace to better inform professionals about the best and most innovative providers of training services and technologies.
Selection to the 2020 Training Industry Top 20™ Training Outsourcing Companies List was based on the following criteria:
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Industry visibility, innovation, and impact. |
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Capability of delivering multiple types of training services. |
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Company size and growth potential. |
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Strength of clients and geographic reach. |
“The 2020 Top 20 Training Outsourcing Companies are an innovative group of organizations developing, managing and delivering training initiatives that create an engaging learning experience and improve employee performance,” said Ken Taylor, president of Training Industry, Inc. “These companies offer comprehensive solutions that solve business needs for organizations around the world.”
View the 2020 Top 20 Training Outsourcing Companies and Watch List
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| StackRoute announces job-linked “Post Graduate Program in Full Stack Product Engineering” for Fresh Engineering Graduates and Young Professionals |
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Bimaljeet Singh Bhasin,
President, Skills and Careers Business, NIIT Ltd., |
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| “Having worked with leading Technology Companies, StackRoute has created a niche for itself as the go-to organisation for disruptive learning solutions amongst Tech Professionals wanting to acquire deep-skills. I am happy to launch this program, which will help produce highly skilled and ‘Day One Ready’ product engineers. Developed basis our deep understanding of industry requirements and the skill gap among young professionals and fresh engineering graduates, this virtual program will equip the learners to seize superior career opportunities” |
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- Delivered through a highly interactive - StackRoute Remote platform, the program produces ‘Day One Ready’ professionals with product engineering skills and remote working capability
- Program will help StackRoute Industry Partners to do Just-in-Time hiring
StackRoute™, an NIIT venture announced the launch of ‘Post Graduate Program in Full Stack Product Engineering’ for fresh engineering graduates and young professionals. This is a remotely delivered virtual program, which transforms fresh engineering graduates into multi-skilled full stack product engineers, who are day one ready for live projects/product development. This is an innovative outcome based program, designed by industry practitioners with experience of building large-scale complex applications.
This is a job-linked program and offers flexible EMI options for fee payment to the learners, which starts only after they get the job and start earning. The job interviews will be scheduled post successful completion of the program. If the learner does not secure a job after successfully completing the program, they will not have to pay EMIs.
StackRoute creates multi-skilled and multi-disciplinary programmers who can become key members of high-performance teams in top notch product engineering companies and IT firms. StackRoute has trained over 5000 professionals for leading Technology companies.
The program comes with a 3-part structure that involves Programming Foundation, followed by Full Stack Programming and Product Development. The total duration of the program is 19 weeks. This is a full time program, and requires each learner to be available for 8 hours every day through virtual platforms for the entire program duration. Initially, participants work individually to learn programming languages and elements of full stack development, and later grouped into teams of six to eight people to develop, test and deploy a technology product.
For more information about the program visit: https://www.niit.com/india/graduates/information-technology/pg-program-full-stack-product-engineering
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| News@NIIT |
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