NIIT Limited announces Q1 (April - June 2018) Consolidated Results
New Delhi, July 26, 2018:
Consolidated Financials for Quarter ended June 30, 2018
|(in Rs. Crore)
June 30, 2018
June 30, 2017
|Profit After Tax
NIIT Limited (NSE: NIITLTD), a global leader in skills and talent development, today reported its results for the first quarter ending June 30, 2018. During the quarter, the company recorded a PAT of Rs. 17.9 Cr, up 73% YoY
and Net Revenue of Rs. 214.3
Cr, up 2% YoY. EBITDA was recorded at Rs. 19 Cr, up 17% YoY on an Operating Margin of 9%, up 110 bps YoY.
The results were taken on record at the meeting of the Board of Directors held today.
Speaking on the company's performance during the quarter, Mr. Vijay K Thadani,
Vice Chairman & Managing Director, NIIT Limited said, "NIIT's Corporate Learning business continues to drive growth. It grew 28% YoY during the quarter, added one new MTS customer and expanded operations with an existing client. Additionally the Skills & Careers business launched pioneering career products & introduced Talent Pipeline as a Service (TPaaS)."
Corporate Learning Group (CLG)
recorded net revenue of Rs. 150.6 Cr up 28% YoY. The revenue visibility for CLG stood at $ 224 Mn, up 17% YoY.
During the quarter NIIT commenced execution of a five-year long-term Learning and Development agreement with Pitney Bowes (NYSE:PBI), a global technology company providing commerce solutions that power billions of transactions. Under this significant agreement, NIIT will take over the majority of Learning and Development (L&D) activities at Pitney Bowes with the exception of leadership and managerial development.
This quarter NIIT was selected for the Top 20 Training Outsourcing Companies List for the eleventh consecutive year by TrainingIndustry.com. Training Industry continuously reviews companies that provide training business process outsourcing (BPO) services and conducts an annual assessment to determine suppliers' experience and capabilities.
Skills & Careers Group (SNC)
recorded net revenue of Rs. 54.8 Cr during Q1.
During the quarter unveiled a series of aspirational Career Programs guided by the choices of the industry to address the changing workforce needs that digital transformation has brought forth. On offer are aspirational programs in the fast-evolving digital marketing & branding, data analytics & predictive modelling, financial services & futuristic IT streams. These programs have been designed to help undergraduates and graduates build a challenging career in the digital economy. NIIT plans to train 60,000 youth over the next 2 years in these new-age career programs.
NIIT also introduced Talent Pipeline as a Service (TPaaS) to develop Just-in-Time job ready talent for global organizations. TPaaS, is first-of-its-kind initiative from NIIT to ensure reliable availability of specifically skilled talent to global organizations to match the pace of expansion in today's fast changing, uncertain business environment. Through this initiative NIIT will train around 1,00,000 youth in 3 years for aspirational career opportunities in leading corporates in the IT & BFSI sectors.
Commenting on the Skills & Careers Group, Sapnesh Lalla,
CEO, NIIT Ltd. said, "NIIT has announced 4 key initiatives in the Skills & Careers business. Each has gained momentum in Q1. TPaaS has 8 mandates from key customers. StackRoute and Training.com are gaining traction with customers and the new career programs have shown encouraging early offtake."
MindChampion Learning Systems Limited (MLSL)
registered net revenue of Rs. 8.8 Cr during the quarter and added 123 school contracts.
StackRoute NIIT's deep skilling initiative on digital technology, has won the 'Most Innovative Learning Partner for Enterprises' award at Times Ascent - National Award for Excellence in Training & Development
NIIT announced 19th National Scholarship in Nigeria to reward meritorious students in Nigeria desirous of building successful careers in today's digital economy
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 across 40 nations, 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 futuristic NIIT nGuru range of learning solutions for schools comprising, interactive Classrooms with digital content, technology-driven Math Lab, IT Wizard programs and Quick School - an Education Resource Planning software. The Training.com learning platform is an NIIT initiative for advanced career programs, which are delivered live by industry experts in an immersive and interactive online mode, combining instructor-led classrooms with the convenience of accessing the training sessions from anywhere.
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. NIIT.tv a disruptive innovation by NIIT, won the prestigious award for 'Educational Technology, at the Indo-American Education Summit 2016. Visit us at: www.niit.com
Investors may contact:
Kapil Saurabh, NIIT Limited,
Ph (Cell) +91 9899117793,
(Dir) +91 124 4293324