NIIT Limited announces Q2 (July - September 2018) Consolidated Results
PAT grows 104% YoY, at Rs. 25.9 Cr
Records Net Revenue at Rs. 228.5 Cr, up 10% YoY
EBITDA up 23% YoY at Rs. 21.9 Cr
Corporate Learning Group (CLG) grows 28% YoY; CLG revenue visibility grows 16% YoY to $226 Mn
Key initiatives – Talent Pipeline as a Service (TPaaS) and StackRoute, deep skilling in digital technologies – receive encouraging response from the industry; gets mandate from top tier IT Services and BFSI organisations.
New Delhi, October 25, 2018:
|NIIT Limited : Consolidated Financials for Quarter ended September 30, 2018
|(in Rs. Crores)
September 30, 2018
September 30, 2017
|Profit After Tax
NIIT Limited(NSE: NIITLTD), a global leader in skills and talent development, today reported its results for the second quarter ending September 30, 2018. During the quarter, the company recorded a PAT of Rs. 25.9 Cr, up 104% YoY and Net Revenue of Rs. 228.5 Cr, up 10% YoY. EBITDA was recorded at Rs. 21.9 Cr, up 23% YoY. Operating Margin stood at 10%, up 105 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, “Distinctive capabilities and strong value proposition of Managed Training Services (MTS) continues to attract global marquee customers. A robust base of 40 MTS clients and $226 Mn Revenue visibility, up 16% YoY, bear strong testimony to this.”
Corporate Learning Group (CLG)
recorded net revenue of Rs. 161.6 Cr up 28% YoY. It added 1 new MTS customer in Q2, renewed contract with 1 and expanded business with 3 existing customers.
This quarter NIIT earned 19 coveted Brandon Hall Group HCM Excellence awards jointly with customers. The Brandon Hall Group Excellence awards are awarded for excellence in Learning and Development.
Skills & Careers Group (SNC)
recorded net revenue of Rs. 61.7 Cr during Q2.
Over the last 2-3 quarters the SNC business has focussed on a few key initiatives. These include new career programs, deep skilling in digital technologies under StackRoute and Talent Pipeline as a Service (TPaaS).
Talent Pipeline as a Service (TPaaS)
was setup 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. Within a short span of launch, NIIT already has TPaaS mandates from one of India’s Top 3 leading IT Services Organisation and 7 other market leading companies from the IT and the BFSI sector, for over 9000 professionals for this financial year.
TPaaS also offers unique opportunity to students to chart an aspirational career with global organizations in today's uncertain times. Students opting for career programs under TPaaS are assured placement with leading corporates on successful completion of the program. NIIT will train around 1,00,000 youth in 3 years for aspirational career opportunities in leading corporates in the IT & BFSI Sectors through this initiative.
The Indian IT industry employs around 4 million people, of which about 40% need re-skilling over the next five years to stay relevant. NIIT’s StackRoute initiative is geared towards imparting deep skilling in digital technologies to transform programmers into full stack developers and project managers into engineering managers and develop digital architects. StackRoute now has substantial mandates from two of India’s Top 5 IT Services Organisations and 7 other IT Services majors for transforming their workforce in the digital age.
In a significant development during the quarter, NIIT unveiled a series of new Career Programmes guided by the choices of the industry to address the changing workforce needs that digital transformation has brought forth. On offer are aspirational programmes in the fast-evolving digital marketing, data analytics, financial services & futuristic IT streams. NIIT plans to train 60,000 youth over the next 2 years in these new-age career programmes.
Acknowledging its contributions in the field of career education, NIIT was recently felicitated with Franchise Award 2018 for ‘Innovation and Technology’, by Franchise India.
Commenting on the Skills & Careers Group, Sapnesh Lalla
, CEO, NIIT Ltd. said, “Our key initiatives - new Career Programmes, TPaaS and StackRoute - continue to receive encouraging response. Each of these initiatives are starting to build momentum, resulting in improved visibility and order intake.”
MindChampion Learning Systems Limited (MLSL)
registered net revenue of Rs. 5.1 Cr.
During the quarter MLSL added 51 school contracts. It also significantly enhanced the curriculum for NIIT Nguru MathPlus - a unique solution designed for fostering mathematical skills.
NIIT Nguru Practice Plus - an online solution for K-12 that enables continuous practice and assessment, now has over 4.1 lakh registered users, and around 1.5 lakh parents.
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.
Investors may contact:
Kapil Saurabh, NIIT Limited,
Ph (Cell) +91 9899117793,
(Dir) +91 124 4293324