Q1 (April-June 2024)
Insight@NIIT:Vol 61
Investor Communication
Contents
Contentss
Q1 Results
Environment Scan
Snap for Industry Stories:
| Please click here to download or view NIIT investor presentation
Please click here to download or view NIIT investor presentation
NIIT Learning Systems Limited (NIIT MTS) Announces Q1 FY25 (April-June 2024) Results
| Highlights for Q1, FY25
| Revenue at Rs. 407.2 Cr, up 7% YoY and 2% QoQ
| EBITDA at Rs. 102.4 Cr up 11% YoY and 3% QoQ
| EBITDA margin at 25% up 99 bps YoY and 14 bps QoQ
| PAT at Rs. 60 Cr with EPS at Rs. 4.4
| Added 3 new MTS Customers; MTS customer tally at 89; Revenue Visibility at USD 350 million
New Delhi, August 01, 2024: NIIT Learning Systems Limited (Ticker Symbol: NIITMTS), a global leader in managed learning services announced the results for the first quarter ended June 30, 2024. During the April to June 2024 quarter, the company recorded a consolidated Net Revenue of Rs. 407.2 Cr, up 7% YoY and up 2% QoQ. EBITDA was Rs. 102.4 Cr, up 11% YoY and 3% QoQ while EBITDA Margin stood at 25%. Profit After Tax was Rs. 60 Cr and the EPS stood at Rs. 4.4. The results were taken on record at the meeting of the Board of Directors held on August 1, 2024. NIIT MTS added three new MTS contracts during the quarter. In addition, the company continued to maintain its track record of 100% renewals. The total number of MTS customers at the end of quarter at 89 with revenue visibility at USD 350 Million. During the quarter, NIIT MTS further enhanced its GenAI offering with ten enterprise-wide use cases for AI-powered L&D transformation. The company also held its flagship Learning Leadership Circle events at client locations across North America and Europe to bring learning leaders together to brainstorm on opportunities to make L&D more strategic and effective for their respective organizations.
| Awards and Accreditations
| NIIT MTS positioned as Strategic Leader on the Fosway 9-Grid™ for Digital Learning for the second consecutive year in 2024
| NIIT MTS named in Training Industry, Inc.'s 2024 list of Top 20 Learning Services Companies for the sixteenth consecutive year
| NIIT MTS named in Training Industry's Top 20 Custom Content Development Companies for the fourteenth straight year
| Vijay K Thadani
Vice Chairman & Managing Director, NIIT MTS
“NIIT MTS continues to demonstrate remarkable resilience in a volatile and uncertain environment. The company has taken the pole position in application of GenAI for improving the effectiveness and efficiency of the L&D function of our customers.”
| Sapnesh Lalla,
CEO and Executive Director, NIIT MTS,
"In Q1 FY25, NIIT MTS continued to see resilient growth. We have accelerated new customer addition and have retained our track record of 100% renewals. We are excited about the immense opportunity that GenAI creates for our customers and are starting to see early results.”
NIIT Limited Announces Q1 FY25 (April-June 2024) Results
| NIIT Limited Announces Q1 FY25 (April-June 2024) Results
| Q1 Revenue at Rs. 825 Mn, up 32% YoY and 11% QoQ
| Revenue from BFSI & Other programs up 94% YoY and Technology programs up 13% YoY
| Profit After Tax at Rs. 78 Mn Vs 22 Mn LY; EPS of Rs 0.6
| Appoints Pankaj Jathar as CEO effective July 1, 2024
New Delhi, August 2, 2024: NIIT Limited (Ticker Symbol: NIITLTD), a leading skills & talent development corporation, today announced its financial results for the quarter ended June 30, 2024. During the quarter, the company recorded Net Revenue of Rs. 825 million, up 32% YoY and up 11% QoQ. EBITDA margin was near breakeven vs negative 10% in corresponding quarter last year. Profit After Tax was Rs. 78 million as compared to Rs. 22 million in Q1 FY24. The growth was driven by expansion in number of customers across private banks, GCCs, Tier II GSIs and large Indian Enterprises. All round growth in the business led by 94% YoY growth in BFSI and Other programs and Technology programs up 13% YoY. BFSI & Other programs contributed 34% of revenue in the quarter. The results were taken on record at the Board of Directors meeting held on August 2, 2024. During the quarter, the company appointed Pankaj Jathar as the new Chief Executive Officer. Pankaj brings in over 25 years of expertise and experience in leading global corporations in eCommerce, consulting and technology solutions, including Accenture and Amazon. In the quarter, the company also launched its advanced technology programs including specialized programs for Digital Architects aimed at senior technology leaders in GSIs & GCCs. In addition, the company rolled out a unique initiative to help large Indian Enterprises adopt GenAI across their organizations.
| Other Highlights:
| StackRoute, an NIIT venture hosted the second edition of the Digital Architect Conclave 2024, offering digital architects from various organizations a unique platform to network, share knowledge and experiences, and engage with industry experts and thought leaders to gain valuable insights and broaden their perspectives.
| StackRoute has recently embarked on several strategic initiatives to enhance workforce capabilities in cutting-edge technologies and management practices. Partnering with one of the Big4 Consulting firms, StackRoute is making their workforce proficient in Generative AI through Master Classes and hands-on labs. Additionally, a unique program has been launched to empower Program Managers of a large Engineering R&D GCC in driving excellence in strategic partnerships. Furthermore, StackRoute has introduced Product Manager Programs for a major Indian automotive company and an Indian enterprise software multinational, aimed at driving new-age digital products through innovative methodologies.
| In a continued effort to build talent for the nation, NIIT IFBI launched the ACE Banker Program in collaboration with HDFC Bank. This initiative aims to create a talent pipeline for Retail Operations roles at HDFC Bank, complementing efforts in training for various positions across other banks.
| The 7th edition of the annual customer conference NIIT Confluence 2024, which has emerged as a pivotal event in the Learning and Development (L&D) landscape, was held in April 2024. The event featured a diverse lineup of participants and speakers from prominent companies across various industries.
| NIIT Digital has launched the Swift Series – GenAI & Cybersecurity programs, designed to meet the growing demand for expertise in these areas. Additionally, NIIT Digital introduced a Modular Programs Portfolio for students and professionals, providing tailored skill programs for targeted learning or comprehensive mastery of new-age domains.
| RPS Consulting, an NIIT Limited subsidiary earned the 2023 EC-Council ATC of the Year Award for its exceptional contribution to the mission of creating a skilled cybersecurity workforce and dedication to making a positive impact on local communities while enhancing the cybersecurity education of their students.
| RPS Consulting was also recognized as 2024 Google Cloud Training Partner of the Year Award for the Asia Pacific Region and acknowledged for its accomplishments in the Google Cloud ecosystem.
| Mr. Vijay K Thadani
Vice Chairman & Managing Director, NIIT Limited,
"We are pleased with continued growth and recovery in the business despite the challenging environment. This progress stems from growth in the BFSI sector and Indian Enterprises and our increased penetration across GCCs and Tier II GSIs. The company has been making investments to expand our capability and reach. With green shoots visible in IT hiring, we expect these investments to further accelerate growth for the company."
| Mr. Rajendra S Pawar,
Chairman and Co-Founder, NIIT Group,
“NIIT continues to do pioneering work in creating future-ready talent across pivotal job roles in Technology & BFSI sectors. I am particularly excited about our initiative to help large Indian Enterprises adopt GenAI to achieve competitive advantage.”
News@NIIT
April
| Generative AI in the classroom: Next edtech evolution
May
| NIIT's Rajendra Pawar Highlights Generative AI's Role in Education
| Increasing demand of GenAI-related skills in the BFSI industry
| National Technology Day 2024: From Pokhran to progress
June
| For coders, AI not a threat but a ladder up the value chain
Environment Scan
| Surging Al demand sparks upskilling need across industries
| Most firms see Al as a 'job killer', but not many have made headway in adopting it
| Four Levers of Enterprise Al Strategy
| Post global layoffs, Google to move some jobs to India
| Retail, auto, new hiring hotspots as IT slows downs
| AI jobs on the rise in tier 2, 3 cities
| GenAI Set to Create Impact Not Seen or Imagined: Chandra
| AI will open up new opportunities, challenges'
| Data Protection, Al Rules Top Tech's Wishlist for Next Govt
| Al reckoning forworld's ad industry at Cannes Lions
Snap for Industry Stories:
| For further queries, please write to investor.relations@niit.com or contact the Editor at- Abhishek.Puri@niit.com For more company updates follow us on :- Twitter:- https://twitter.com/niitltd LinkedIn :- https://www.linkedin.com/company/niit-limited Facebook :- https://www.facebook.com/NIITLimited/ Design Team:- Nisha Thomas, LSE-LC |
Copyright © 2008 NIIT Limited