NIIT Learning Systems Limited announces Q3 FY24 (October-December 2023) Results

  • Revenue at Rs. 391.3 Cr, up 3% QoQ in Constant Currency
  • EBITDA at Rs. 93.4 Cr, EBITDA margin at 24%
  • PAT at Rs. 56.8 Cr, up 23% YoY and up 21% QoQ
  • Added two new MTS Customers; MTS customer tally at 86; Revenue Visibility at USD 348 million
NIIT Learning Systems Limited (NLSL)
Consolidated Financials for Quarter ended December 31, 2023
(in Rs. Crores)Quarter ended
December 31, 2023
QoQ changeYoY change
Net Revenue391.32%8%
Profit After Tax56.821%23%

Note: Results include impact of inorganic activity and the demerger of NLSL from NIIT Limited.

New Delhi, January 31, 2024: 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 third quarter ended December 31, 2023.

The consolidated Net Revenue recorded by the company during this quarter is Rs 391.3 Cr, up 8% YoY. EBITDA was Rs. 93.4 Cr, up 8% YoY. EBITDA Margin stood at 24% and Profit After Tax was Rs. 56.8 Cr, up 23% YoY, resulting in an EPS of Rs. 4.2; both PAT and EPS are up 23% YoY.

The results were taken on record at the meeting of the Board of Directors held today.

During the quarter, NIIT MTS added two new MTS customers. In addition, the company maintained its track record of 100% renewals with four renewals during the period. At the end of the quarter, the company has 86 active MTS customers with a revenue visibility of USD 348 million.

In the quarter, NIIT MTS earned 19 Brandon Hall Excellence in HCM technology awards jointly with customers including 18 gold awards, and one silver award. NIIT MTS also earned a Net Promoter Score (NPS) of 9.08 on 10 from customers in its annual Voice of Customer survey.

Commenting on the results, Vijay K Thadani, Co-founder NIIT and Vice Chairman & Managing Director, NIIT Learning Systems Limited said, “Despite the tough environment, the business has shown strong resilience through QoQ growth while maintaining operating margins and achieving strong profit growth.’’

Quarter Highlights

  • NIIT MTS earned 19 Brandon Hall Excellence in Technology awards for 2023, including awards won jointly with Bank of America and Metlife.
  • NIIT MTS was accredited a Gold Standard Learning Provider by The LPI (Learning and Performance Institute) for 2023. NIIT MTS earned this accreditation for the eighth consecutive year.
  • NIIT MTS was named to Training Industry, Inc.'s 2023 list of Top 20 IT & Technical Training Companies for the fourteenth year.
  • The NIIT MTS Consulting team and St. Charles Consulting Group launched their comprehensive Skills-Based Organizations (SBOs) research report featuring a groundbreaking Skills-Based Talent Strategy Framework® to help organizations transform their approach to talent and operations.

Sapnesh Lalla, Executive Director & CEO, NIIT Learning Systems Limited stated, “Business saw an uptick in sequential growth on the back of continuing addition of new customers and 100% renewals despite compression of spends. We are making a strong commitment to investing in AI for improving effectiveness of learning interventions and are getting positive response from 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.

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Shivani Chakravarthy
Vice President, Global Marketing, NIIT MTS


Investors may contact:
Kapil Saurabh,
Vice President, NIIT MTS
Ph (Cell) +91 9899117793,
(Dir) +91 124 4293324