NIIT Learning Systems Limited announces Q2 FY24 (July-September 2023) Results
- Revenue at 381.9 Cr, up 27% YoY
- EBITDA at Rs. 91 Cr, up 58% YoY; EBITDA margin at 23.8%, up 464 bps YoY
- Added 4 New MTS Customers; Revenue Visibility at USD 350 million
- Company declares interim dividend of Rs. 2.50 per share
| NIIT Learning Systems Limited (NLSL) Consolidated Financials for Quarter ended September 30, 2023 | |||
| (in Rs. Crores) | Quarter ended September 30, 2023 | Quarter ended September 30, 2022 | YoY change |
| Net Revenue | 381.9 | 300.3 | 27% |
| EBITDA | 91 | 57.6 | 58% |
| Profit After Tax | 46.9 | 37 | 27% |
Note: Results include impact of inorganic activity and the demerger of NLSL from NIIT Limited.
New Delhi, October 30, 2023: NIIT Learning Systems Limited [NIIT Managed Training Services (NIIT MTS)] (Ticker Symbol: NIITMTS), a global leader in managed learning services announced the results for the second quarter ended September 30, 2023.
The consolidated Net Revenue recorded by the company during this quarter is Rs 381.9 Cr, up 27% YoY. EBITDA was Rs. 91 Cr, up 58% YoY. EBITDA Margin stood at 23.8% and Profit After Tax was Rs. 46.9 Cr, resulting in an EPS of Rs. 3.5.
The results were taken on record at the meeting of the Board of Directors held today. The Board also approved an interim dividend of Rs. 2.50 per share. The record date for the dividend will be November 10, 2023.
During the quarter, NIIT MTS added 4 new MTS customers. In addition, the company maintained its track record of 100% renewals with 4 renewals during the period. At the end of the quarter, the company has 85 active MTS customers with a revenue visibility of USD 350 million.
In the quarter, NIIT MTS earned 56 Brandon Hall Excellence in HCM awards jointly with customers including 33 gold awards, 10 silver awards, and 13 bronze awards.
Commenting on the results, Vijay K Thadani, Co-founder NIIT and Vice Chairman & Managing Director, NIIT Learning Systems Limited said, “Disruptive technologies like AI present a massive opportunity for learning to become significantly more impactful and will enable organizations to transform their talent and achieve competitive advantage. By investing early in these transformative technologies, NIIT MTS is uniquely positioned to become more valuable to its growing list of customers”.
Quarter Highlights
- NIIT MTS made a strategic investment in the private placement round of KIC InnoEnergy, SE (EIT InnoEnergy). With this investment, NIIT MTS joined the cap table as one of the new strategic investors in the private placement round that included major players from industrial, financial, training, and digital sectors to accelerate the clean energy industrial innovation.
- NIIT MTS announced the launch of "Xsel," a modern Real Estate Learning Platform, designed exclusively for real estate brokerages and their agents. Xsel is a comprehensive and cutting-edge learning solution designed to solve challenges in learning, performance, and professional development for real estate agents at brokerages.
- NIIT MTS was named to Training Industry, Inc.'s 2023 Top 20 Learning Services companies list for the sixteenth consecutive year and the Top 20 Experiential Learning Technologies companies list for the third consecutive year.
Sapnesh Lalla, Executive Director & CEO, NIIT Learning Systems Limited stated, “In a tough economic environment, our value proposition is continuing to resonate with a larger set of customers. We continue to make investments, expand our customer set, and grow our capabilities uniquely positioning NIIT MTS for acceleration and growth as the environment starts to stabilize”.
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, LearningTechnology, 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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| For Media queries contact: Shivani Chakravarthy Vice President, Global Marketing, NIIT MTS shivanich@niitmts.com Swati Sharma Corporate Communications & Marketing, NIIT MTS Ph: (Cell) +91 9999601154, (Dir) +91 124 4293042 Email: swati.sharma@niitmts.com | Investors may contact: Kapil Saurabh, Vice President, NIIT MTS Ph (Cell) +91 9899117793, (Dir) +91 124 4293324 Email: kapil.saurabh@niitmts.com |