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 Q2 (July-September 2019) |
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| Insight@NIIT:Vol.44 |
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| Investor Communication |
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| NIIT Limited announces Q2 (July - September 2019) Consolidated Results |
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Vijay K Thadani
Vice Chairman & Managing Director, NIIT Limited |
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| "Continued improvement in performance of go forward business is a confirmation of the opportunity NIIT is pursuing and the strength of its value proposition. We also welcome the new tax structure proposed by the Finance Minister and have embraced the lower tax rate." |
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Profit After Tax recorded at Rs. 209.3 Cr |
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Corporate Learning Group (CLG) records revenue visibility of US$ 250 Mn, up 11% YoY; Managed Training Services (MTS) customer tally at 51 |
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Real Estate Council of Ontario (RECO) program launched as scheduled in September |
NIIT Limited reported its results for the second quarter ending September 30, 2019. During the quarter, the company recorded a Net Revenue of Rs. 236.5 Cr. up 5% YoY; EBITDA was recorded at Rs. 25.4 Cr and Operating Margin at 11%. Profit After Tax was recorded at Rs. 209.3 Cr. This includes impact of reversal of tax provision pursuant to recent changes in income tax law, primarily related to divestment of shareholding in NIIT Technologies Limited.
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. 174 Cr up 8% YoY. It added 2 new Managed Training Services (MTS) customer in Q2, taking MTS customers tally to 51.
During the quarter NIIT earned 37 coveted Brandon Hall Group HCM Excellence awards jointly with customers. The company was named a top winner for 2019.
Skills & Careers Group (SNC) recorded net revenue of Rs. 58.3 Cr during Q2. SNC go forward business grew 4% YoY.
Continuing its focus on the #FutureReadyTalent initiative, NIIT launched Future Fests, a pan-India connect program across 50 colleges in the country. The initiative will aim towards encouraging aspiring professionals to enhance their knowledge and skills through NIIT's future ready programs.
SNC added two large customers including a leading private bank and a global auto company, during the quarter. StackRoute and TPaaS (Talent Pipeline as a Service) continued to demonstrate strong growth momentum.
During the quarter, NIIT collaborated with Automation Anywhere, a global leader in robotic process automation (RPA), to deliver comprehensive RPA workshops to developers, students and IT professionals across India.
MindChampion Learning Systems Limited (MLSL) registered net revenue of Rs. 4.2 Cr.
During the quarter MLSL added 80 new school contracts. MLSL also bagged the IDA Education Awards 2019 as the 'Product/solution/service of the Year for K-12 education' for its product Practice Plus, in the Education sector.
MLSL upgraded its ITW series and its MathLab solution, which will be made available to schools for the coming academic session.
Share buyback update
As announced earlier, on August 10, 2019, the Board approved a proposal to buyback up to 2,68,00,000 (Two crore sixty eight lakh) Equity Shares 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 not exceeding Rs. 335,00,00,000 (Three hundred and thirty five crore). The shareholders approved the proposal on October 3. In accordance with the provisions of the Buyback Regulations, the Company had filed the draft letter of offer for the Buyback with SEBI on October 14, 2019 and is awaiting comments on the same.
About NIIT
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. NIIT has incubated, StackRoute, as a digital transformation partner for corporates to build multi-skilled full stack developers at scale. 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 twelve 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.
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MindChampion Learning Systems Limited bags IDA Education Awards 2019 |
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- Wins 'Product/solution/service of the Year for K-12 education' award for its product Practice Plus.
MindChampion Learning Systems Limited (MLSL), NIIT's wholly owned subsidiary for its K-12 school learning initiative, has bagged the IDA Education Awards 2019 as the 'Product/solution/service of the Year for K-12 education' for its product Practice Plus, in the Education sector. The award was received by Ganesh Krishnamurthy, Executive Vice President & Head - Solutions, Products & Alliances, Skills & Careers Group, NIIT Ltd. recently in Bengaluru, at the IDA Corporate Awards 2019 organized by Didac India.
NIIT Nguru Practice Plus is an academically designed online solution for K-12 that enables continuous practice and assessment. It is a 360-degree online solution with features like student-practice engine, assessment con?gurator and detailed analytics that enables students identify and focus on improvement areas. It empowers teachers make informed decisions basis student's performance and plan classroom instruction accordingly.
Practice plus is designed to help students achieve higher levels of learning through practice to attain mastery across the concepts. The online solution moves beyond assigning grades to providing deeper insights regarding student's performance. Individualized practice supports each learner to help and practice at their own pace.
NIIT Nguru offers holistic range of School Learning Solutions that comprises Digital - Interactive Classroom; Labs - Math Lab & English Lab; Books - IT Wizard, Math Classic, English Classic, Science Classic & My pals are here; Assessments - Practice Plus and School Support solutions - Quick School, Career guidance & Counselling programs.
The IDA Education Awards presented by India Didactics Association, are given to reward pioneering initiatives taken by educational institutions/organizations with the focus on factors enhancing the student learning outcomes. They aim towards identifying and acknowledging educational institutions that have transformed teaching, learning, and employability outcomes.
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| NIIT and Automation Anywhere Collaborate to Launch Robotic Process Automation Workshops |
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Mr. Bimaljeet Singh,
Skills and Careers Business (India), NIIT Ltd. |
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| "The domain of RPA is growing rapidly and has become central to digital transformation initiatives of organizations across industries. We are glad to join hands with Automation Anywhere, to encourage learners to seize the career opportunity, as well as enterprises to solve their learning and development needs". |
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New initiative introduces automation capabilities for organizations across multiple industries
NIIT Limited, is collaborating with Automation Anywhere, a global leader in robotic process automation (RPA), to deliver comprehensive RPA workshops to developers, students and IT professionals across India.
A three-day workshop, Mastering Bots: Design and Build an Advanced Digital Workforce is designed to help participants learn how to create and automate software bots, apply RPA in real-world scenarios and understand the importance of RPA in the broader technology landscape. It will also familiarize attendees with Automation Anywhere's RPA platform.
A one-day workshop, Introduction to Bots has also been launched, offering an overview on software bots, and a program focused on advanced RPA is planned for the coming months.
According to a report by Grand View Research, Inc., the global RPA market is expected to reach $3.97 Billion by 2025, growing at more than 30 per cent CAGR. RPA has become central to digital transformation initiatives of organizations across multiple industries to increase productivity and lower operating costs. RPA automates error-prone, high-volume administrative work, in addition to offering other benefits like improving internal processes and business response times.
"NIIT workshops are now providing attendees a concentrated program on RPA training which will address the need for these high demand skills," said Arvind Thothadri, Vice President, Global Training and Certification at Automation Anywhere. "Workshop attendees will now have the advantages of RPA training that could help open more career opportunities for them, and at the same time, give human workers more time to focus on innovation."
For more details visit: https://www.niit.com/rpa-workshop/
or Contact:- # 098115 43428
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| NIIT announces 28th Bhavishya Jyoti Scholarship (BJS) for Graduates and Under Graduates |
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Bimaljeet Singh Bhasin,
President, Skills and Careers Business, NIIT Ltd |
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| "We at NIIT are focused towards providing aspiring professionals with an opportunity to develop and grow in the field of their choice. The Bhavishya Jyoti Scholarship is an integral part of NIIT's commitment to encourage meritorious students of the country to build a successful career in new age industry aligned programs". |
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- Offers scholarship on Future Ready Talent programmes, aimed to skill the youth for jobs of the future
NIIT Limited, announced its annual flagship 'Bhavishya Jyoti Scholarship' for Future Ready Talent programmes.
NIIT is offering Future Ready talent programmes, to empower aspiring professionals with new age career possibilities and provide them with an opportunity to develop and grow in the field of their choice. On offer are courses in, Information technology, Digital marketing, Banking and Finance, Data analytics, Full Stack Product Engineering, Banking and Finance and Accounting & Business Analytics, to skill today's youth for the jobs of the future. Based on the student's performance in an aptitude test, NIIT will be offering scholarships across the country this year.
In addition to students who have completed their Class XII or equivalent, graduates/or those currently pursuing graduation and post-graduation Programmes are also eligible for NIIT Bhavishya Jyoti Scholarship. The Scholarship will be awarded basis the Class XII scores of the students and can be availed across all NIIT Education Centres across the country.
Bhavishya Jyoti Scholarship will reward merit scholarships of up to Rs 30,000/- and will continue till 30th September 2019
For over 27 years, these scholarships have offered meaningful opportunities to students, to prove their aptitude in the field of IT and other futuristic careers across verticals.
Bhavishya Jyoti is one of India's most recognized and trusted scholarship Programmes with 27 years of market presence that has benefitted over 5.2 lakh students since its inception. It is a unique initiative by NIIT to recognize, empower and attract students in NIIT ecosystem and reward students desirous of building successful careers in diverse industries. The Scholarship was launched by NIIT in 1991, to enable financially challenged meritorious students to pursue careers in IT and other new-age Programmes.
To know more about the programme, please call us at 1800 3000 6448
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| NIIT Earns 37 Brandon Hall Awards Jointly with Customers |
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DJ Chadha,
EVP & Global Head, LDO, Content Design & Development at NIIT's Corporate Learning Group. |
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| "We are extremely proud to be named a top winner by earning 37 Brandon Hall Excellence awards jointly with our customers. These prestigious awards are a testament to excellence in learning and talent development. We are honored to earn the trust of our customers through innovative approaches and transformative business results," |
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NIIT Limited, a global skills and talent development company and leading provider of managed training services, announced today that it has earned 37 coveted Brandon Hall Group HCM Excellence awards jointly with customers. The company was named a top winner for 2019. The Brandon Hall Group Excellence awards are awarded for excellence in Corporate Initiatives, Learning, Talent Management, Sales Performance, Leadership Development, Talent Acquisition and Workforce Management.
NIIT earned 37 awards in various categories jointly with customers for 2019:
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Gold award for Best Use of Blended Learning jointly with GE Power for GE O&M Maintenance Training Program |
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Gold award for Best Use of Games and Simulations for Learning jointly with Houghton Mifflin Harcourt for HMH Science Dimensions AR |
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Gold award for Best Advance in Custom Content jointly with IQVIA for Ethical Research |
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Gold award for Best Use of Blended Learning jointly with IQVIA for Oncology Training Program for CRAs |
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Gold award for Best Advance in Creating a Learning Strategy jointly with MetLife for MetLife Distribution Academy |
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Gold award for Best Advance in Creating an Extended Enterprise Learning Program jointly with MetLife for MetLife Distribution Academy |
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Gold award for Best Advance in Learning Technology Implementation jointly with MetLife for MetLife Distribution Academy |
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Gold award for Best Results of a Learning Program jointly with MetLife for MetLife Distribution Academy |
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Gold award for Best Unique or Innovative Learning and Development Program jointly with MetLife for MetLife Distribution Academy |
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Gold award for Best Use of Mobile Learning jointly with MetLife for MetLife Distribution Academy |
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Gold award for Best Program for Sales Training and Performance jointly with MetLife for MetLife Distribution Academy |
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Gold award for Best Sales Onboarding Program jointly with MetLife for MetLife Distribution Academy |
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Gold award for Best Sales Training Program for the Extended Enterprise jointly with MetLife for MetLife Distribution Academy |
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Gold award for Best Use of Games and Simulations for Learning jointly with Rio Tinto for Rio Tinto Rails |
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Two Silver awards for Best Advance in Custom Content jointly with ABB for Fair Process and Prospect Generation by Field Service Engineers |
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Silver award for Best Advance in Creating a Learning Strategy jointly with GE Power for GE Power's Entry Level Training Program for Field Engineers: Basic Engineering Technology |
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Silver award for Best Advance in Creating a Learning Strategy jointly with IQVIA for CRA Graduate Program |
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Silver award for Best Advance in Custom Content jointly with IQVIA for Getting Started on a Study |
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Silver award for Best Learning Program Supporting a Change Transformation Business Strategy jointly with IQVIA for eTMF Transformation Training Program |
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Silver award for Best Unique or Innovative Sales Training Program jointly with MetLife for MetLife Distribution Academy |
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Silver award for Best Advance in Custom Content jointly with Royal Dutch Shell for Emergency Response-Legal |
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Silver award for Best Unique or Innovative Leadership Development Program jointly with Royal Dutch Shell for Integrity: Deciding the Future |
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Bronze award for Best Learning Program Supporting a Change Transformation Business Strategy jointly with Bank of America for Risk Boot Camp |
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Four Bronze awards for Best Advance in Custom Content jointly with Equinor for US Induction, Evaluation Awareness, Stop Work Authority and Operating Administrator Account: Fundamentals |
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Bronze award for Best Use of Blended Learning jointly with Equinor for Family Liaison Officer Program |
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Two bronze awards for Best Use of Games and Simulations for Learning jointly with FM Global for Virtual Boiler Simulation and Virtual Battery Room Inspection |
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Bronze award for Best Use of Virtual Worlds for Learning jointly with Houghton Mifflin Harcourt for HMH Science Dimensions AR |
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Bronze award for Best Use of Video for Learning jointly with IQVIA for Working as a CRA |
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Bronze award for Best Unique or Innovative Learning and Development Program jointly with Rio Tinto for Rio Tinto Rails |
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Bronze award for Best Advance in Custom Content jointly with Royal Dutch Shell for Land Access |
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Bronze award for Best Use of Games and Simulations for Learning jointly with Royal Dutch Shell for Food Safety Game |
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Bronze award for Best Use of Mobile Learning jointly with Royal Dutch Shell for Spot the Hazard |
The winners are listed at http://www.brandonhall.com/excellenceawards/past-winners.php.
"This is the 25th edition of the HCM Excellence Awards and each year we are impressed by the range of innovations" said Mike Cooke, Brandon Hall Group CEO. "The corporate environment has drastically changed, and human capital executives responded in really meaningful ways."
The award entries were evaluated by a panel of veteran, independent senior industry experts, Brandon Hall Group analysts and executives based upon the following criteria: fit the need, design of the program, functionality, innovation, and overall measurable benefits.
Excellence Awards winners will be honored at Brandon Hall Group's HCM Excellence Conference, February 4-6, 2020, at the Hilton in West Palm Beach, Florida.
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| NIIT announces 'Future Ready Talent' - an initiative to skill today's youth for the jobs of the future |
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NIIT Limited announced 'Future Ready Talent' an initiative to encourage aspiring professionals to enhance their knowledge through future ready programs, together with their regular academic curriculum. As part of this initiative, NIIT will conduct seminars nationally across 26 centres in India, in the month of July, wherein successful leaders from diverse fields will share their experiences with the youth, making them aware about the importance of new-age future ready careers.
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.
Towards this, NIIT offers new age programs in Digital Marketing and Branding, Data Analytics and Predictive Modelling, Full Stack Product Engineering, Banking and Finance and Accounting & Business Analytics.
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| News@NIIT |
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