Press Release

2024

NIIT Limited Announces Consolidated Results for Q4 and Financial Year 2023-24

Q4 FY24 Highlights

  • Q4 Revenue at Rs. 743 million, up 24% YoY
  • EBITDA at Rs. 13 million, vs. EBITDA loss of Rs. 95 million LY
  • Profit After Tax (PAT) at Rs. 112 million, vs. loss of Rs. 94 million LY

FY23-24 Highlights

  • FY24 Revenue at Rs. ­­­3035 million 
  • EBITDA at Rs. 48 million; EBITDA margin up 129 bps YoY
  • Profit After Tax (PAT) at Rs. 384 million, vs. Rs. 32 million LY
  • EPS of Rs 2.85 vs. Rs. 0.24 LY

 

 

Q4 FY24

FY24

(In Rs. Mn)

Quarter Ended
March 31, 2024

QoQ change*

YoY change

FY24

YoY change

Net Revenue

743

-13%

24%

3035

-11%

EBITDA

13

-83%

+108 Mn

48

364%

Profit After Tax

112

-22%

+205 Mn

384

1108%

*Note: Q4 is a seasonally weak quarter for the business. Therefore, YoY changes are more appropriate for comparison

New Delhi, May 24, 2024: NIIT Limited (Ticker Symbol: NIITLTD), a leading skills & talent development corporation, announced the annual results for the Financial Year 2024, ending March 31, 2024.

During the quarter, the company recorded Net Revenue of Rs. 743 million, up 24% YoY. EBITDA was recorded at Rs. 13 million, up 114% YoY. Profit after Tax was Rs. 112 million, up 219% YoY.

During the financial year, the company recorded consolidated Net Revenue of Rs. 3035 million. EBITDA was Rs. 48 million, up 364% YoY. Profit After Tax was Rs. 384 million and the EPS stood at Rs. 2.85.

The Board recommended a final dividend of Rs. 0.75 per equity share. This is in addition to an interim dividend of Rs. 0.50 per equity share declared on October 31, 2023.

The results were taken on record at the meeting of the Board of Directors held on May 24, 2024.

In FY24, NIIT Ltd announced the integration of Generative AI in its existing Digital Marketing and Full Stack Software Engineering programs which is aimed at equipping learners with a competitive edge in today’s rapidly evolving job market thereby making them industry-ready.

Mr. Vijay K. Thadani, Vice Chairman and Managing Director, said, “The business has responded with agility to the IT hiring freeze with alternate growth strategies which resulted in getting back on the path of growth in Q4. We have received very encouraging response from our customers for adoption of GenAI in improving productivity. We are very excited about the opportunities emerging out of integrating GenAI towards outcome-based learning.”

In Q4, revenue from NIIT Ltd.'s early career segment grew 16% YoY, contributing 48% to the total revenue. The working professional segment grew 32% YoY contributing the balance 52%. Additionally, StackRoute and TPaaS experienced a year-over-year growth of 45%.

Mr. Rajendra S Pawar, Chairman and Co-Founder, NIIT Ltd said, “We remain committed to empowering individuals and building a future-ready workforce. The results showcase the impact of our tailored programs and strategic investments in areas like Generative AI and new-age skills. This empowers individuals at all career stages to thrive.”

In FY24, RPS Consulting, an NIIT subsidiary, made significant strides in the industry, being recognized as the "2024 Google Training Partner of the Year - Asia Pacific" for the second consecutive year. Additionally, RPS Consulting has been honored as the "Veeam Partner of the Year for APAC - 2023" and the "EC Council ATC of the Year - 2023".

The 7th edition of the annual customer conference NIIT Confluence 2024, which has emerged as a pivotal event in the Learning and Development (L&D) landscape, was held in April’24. The event featured a diverse lineup of participants and speakers from prominent companies across various industries. With approximately 10 panel discussions, 5 fireside chats, and 3 keynote sessions over three days, the event provided a robust platform for dialogue and the exchange of ideas.

In a move to redefine education with personalized guidance, NIIT Digital conceptualized the idea of NIIT Learner Hub with a vision to bridge the gap in online learning, offering a human touch through face-to-face interaction. NIIT Learner Hub will empower students to explore interests, identify strengths, and build personalized roadmaps to success. This innovative space fosters meaningful conversations and unlocks opportunities, ensuring students thrive in the tech-driven world.

NIIT Ltd organized the third edition of the EdTech Growth Summit focusing on capacity building of the Ed-tech sector to help achieve profitable growth. The Summit featured keynote speeches, panel discussions, and fireside chats besides providing a unique platform for Ed-tech founders and start-ups to glean insights from industry experts and collaborate with educators, industry leaders, and tech innovators.

IFBI significantly expanded its offerings in FY24, launching a suite of solutions for diverse roles within the BFSI industry. These solutions include Branch Manager Certification, Digital Sales Coaching for sales professionals, Branch Operations Management programs, and an academy with a long-term learning journey for Relationship Managers. Additionally, programs focused on Bharat Banking, Rural Banking, and Corporate Salary catered to specific segments of the financial sector. Through strategic partnerships with leading banks, IFBI has successfully trained over 32,000 BFSI professionals.

StackRoute achieved significant growth in its Transformative Program series, partnering with five Global System Integrators (GSIs) and one Global Capability Centre (GCC) to upskill senior tech professionals like Architects, Program Managers, and Product Managers.  Additionally, StackRoute expanded its offerings by launching Data Science programs for an Engineering GCC and a GSI, while also creating unique reskilling and deployment programs for software engineers at two GSIs.

Other Highlights

  • NIIT Ltd introduced a new set of programs named Career Catalyst Programs which is a Java & Data Science Foundation Program aimed at providing learners with an early head start in career exploration and skill development in their desired fields.
  • NIIT Limited has been recognized as Best Education Brand of 2023 at the 6th Edition of The Economic Times Best Education Brands awards and summit for its commitment and contribution towards strengthening the upskilling and reskilling landscape through its innovative learning solutions. 
  • NIIT Limited announced the first edition of Digital Architecture Conclave 2023 by StackRoute, an NIIT venture, that provides a unique opportunity for the architectural community to get insights from key industry leaders and professionals on architecture trends and techniques powering future architectural blueprints.

About NIIT Limited

NIIT Ltd. is a leading skills & talent development corporation, set up in 1981 to help the nascent IT industry overcome its human resource challenges. To meet the manpower challenges in BFSI sector, NIIT established Institute for Finance, Banking, and Insurance (IFBI), India's premier banking training institute in 2006. The company today ranks amongst the world's leading training organizations owing to its vast and comprehensive array of talent development programs.

NIIT Ltd. delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in futuristic domains through its various businesses including NIIT Digital, StackRoute, RPS Consulting, Institute of Finance Banking & Insurance (IFBI), TPaaS and Sales & Service Excellence (SSE).

  • The robust NIIT Digital platform enables distinctive learning experiences for corporate and individual learners.
  • IFBI is a leading provider of learning services for early career as well as working professionals for the BFSI sector in India.
  • NIIT StackRoute is a digital transformation partner for corporates to build multi-skilled full stack professionals in advanced technologies at scale.
  • RPS Consulting is a leading provider of training programs on emerging digital technologies for experienced technology professionals.
  • Talent Pipeline as a Service (TPaaS) helps organizations address the challenge of securing mid to long term talent across Technology, Marketing, and Sales Roles.
  • NIIT SSE has deep expertise in empowering businesses in creating an eco-system for talent development to enhance key competencies & elevate performance to achieve higher business outcomes.

For more information about NIIT visit: www.niit.com

For Media query, Please contact

For Media queries please contact

 

Abhishek Puri

Division Lead, Corporate and Marketing Communications, NIIT Limited

Ph: (Cell) + +91 9953300852

Email: abhishek.puri@niit.com

 

Anuradha Chawla

Sr Account Director, AvianWE

Ph: (Cell) +91 9899965560

Email: anuradha@avianwe.com

Investors may contact:

 

Kapil Saurabh

Head of Mergers and Acquisitions and IR, NIIT Limited

Ph (Cell) +91 9899117793,

(Dir) +91 124 4293324

Email: kapil.saurabh@niit.com

 

 

Visit us at: www.niit.com

Follow us on: www.twitter.com/niitltd

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About NIIT

NIIT is a leading Global 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, yet comprehensive array of talent development programs. With a footprint across 30 nations, NIIT offers training and development solutions to Individuals, Enterprises and Institutions.