NIIT Learning Systems Limited announces Q1 FY24 (April-June 2023) Results
- Q1 Revenue at Rs. 382.3 Cr, up 22% YoY
- EBITDA at Rs. 92.4 Cr, with EBITDA margin of 24%
- Profit After Tax of Rs. 55.2 Cr; EPS at Rs. 4.1
- Adds 4 New MTS Customers during the quarter; Revenue Visibility at USD 360 million
- NIIT Learning Systems Limited is now listed on BSE and NSE (Ticker Symbol: NIITMTS)
|NIIT Learning Systems Limited Consolidated Financials for Quarter ended June 30, 2023|
|(in Rs. Crores)||Quarter ended June 30, 2022||Quarter ended June 30, 2021||YoY change|
|Profit After Tax||55.2||55.2||0%|
*Results are not comparable with previously declared results due to the transfer of Corporate Learning Business undertaking from NIIT to NLSL, with effect from April 1, 2022, the appointed date.
New Delhi, August 10, 2023: NIIT Learning Systems Limited (Ticker Symbol: NIITMTS), a global leader in managed learning services announced the results for the first quarter ended June 30, 2023.
The consolidated Net Revenue recorded by the company during this quarter is Rs 382.3 Cr, up 22% YoY. EBITDA was Rs. 92.4 Cr, up 21% YoY. EBITDA Margin stood at 24% and Profit After Tax was Rs. 55.2 Cr, resulting in an EPS of Rs. 4.1.
The results were taken on record at the meeting of the Board of Directors held today.
Earlier this week the company marked its debut on the Indian stock exchanges through its listing on the BSE and NSE on August 8, 2023.
On the occasion of the listing of the company Rajendra Singh Pawar, Co-founder NIIT and Chairperson NIIT Learning Systems Limited, said, “We are proud and thrilled to present our newly listed entity – ‘NIIT Learning Systems Limited’. The Managed Training Services Business has grown to be ranked in the Top 5, globally in the Learning Outsourcing space. The global corporate training market is currently underpenetrated, and the company has an opportunity to become a leader in this space.”
During the quarter, NIIT MTS added 4 new NIIT MTS customers, taking the total count of NIIT customers to 83. Revenue Visibility at the end of Q1 stood at USD 360 million.
Commenting on the results, Vijay K. Thadani, Co-founder NIIT and Vice Chairman & Managing Director, NIIT Learning Systems Limited said, “Despite the challenging macroeconomic environment and prevailing uncertainty, the business continues to attract new customers as well as maintain its track record of 100% renewals. This would provide a strong platform for growth as we see reversion to normal consumption levels.”
- In the quarter, NIIT MTS launched a pivotal initiative through a strategic partnership with EIT InnoEnergy Skills Institute. As a strategic learning services partner of the EIT InnoEnergy Skills Institute, NIIT MTS will help rapidly scale and create the highly skilled and certified human capital essential for the rapid transition to green energy.
- NIIT MTS was ranked among Training Industry, Inc.'s 2023 Top 20 Custom Content Development Companies for the thirteenth consecutive year.
- NIIT MTS was featured as a Strategic Leader in the 2023 Fosway Group 9-Grid™ for Digital Learning.
Sapnesh Lalla, Executive Director & CEO, NIIT Learning Systems Limited stated, “We are continuing to make disproportionate investments in transformational opportunities. Our recent partnership with EIT InnoEnergy will help us access skilling opportunities as corporations embrace decarbonization initiatives. Similarly, we are investing in AI and believe that it will help us deliver more ambitious learning outcomes for our customers.”
ABOUT NIIT LEARNING SYSTEMS LIMITED
NIIT Learning Systems Limited (NIIT MTS) offers Managed Training Services to market-leading companies across 30 countries. Trusted by the world’s leading companies, NIIT MTS provides high-impact managed learning solutions that weave together the best of learning theory, technology, operations, and services to enable a thriving workforce.
The NIIT MTS comprehensive suite of Managed Training Services includes Custom Content and Curriculum Design, Learning Delivery, Learning Administration, Strategic Sourcing, Learning Technology, and L&D consulting services. With a Net Promoter Score of 9 on 10 and a 100% renewal rate, NIIT MTS helps leading companies transform their learning ecosystems while increasing the business value and impact of learning.
Visit us at: www.niitmts.com
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