NIIT Limited announces Q1 (April - June 2021) Consolidated Results
- Q1 Revenue at Rs. 301 Cr, up 49% YoY; EBITDA margin at 24%, up 1188 bps YoY
- Records Profit After Tax of Rs. 51.4 Cr, up 78% YoY
- Corporate group up 47% YoY; Skills & Careers group grows 62% YoY
Consolidated Financials for Quarter ended June 30, 2021
|(in Rs. Crore)|
June 30, 2021
June 30, 2020
|EBITDA %||24%||12%||1188 bps|
|Profit After Tax||51.4||29.0||78%|
New Delhi, July 30, 2021: NIIT Limited (NSE: NIITLTD), a global skills & talent development company and leading provider of managed training services, today reported its results for the first quarter ending June 30, 2021.
During the Quarter, the company recorded a Net Revenue of Rs. 301 Cr, up 49% YoY and Profit After Tax of Rs. 51.4 Cr, up 78% YoY. EBITDA was recorded at Rs. 72.1 Cr, up 196% YoY and EBITDA margin was recorded at 24%, up 1188 bps. EPS stood at Rs. 3.8.
The company completed the buyback of 98.75 Lac equity shares at a price of Rs. 240/- per Equity Share in May 2021. The shares purchased under the buyback have been extinguished. At the end of the quarter, post the buyback the outstanding shares stood at 132.82 million.
The results were taken on record at the meeting of the Board of Directors held today.
Speaking on the occasion, Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, "NIIT delivered robust revenue growth of 49% YoY and healthy profitability to capitalise on the emerging opportunities, amidst resurgence of the pandemic, thus demonstrating continued resilience to adverse environment conditions".
Corporate Learning Group (CLG) recorded revenues of Rs. 263.3 Cr, up 47% YoY during Q1.
During the quarter, CLG signed 3 new MTS contracts, and expanded the scope of work with 2 existing customers. The total number of MTS customers stand at 59 with an overall revenue visibility of $298 Mn.
CLG won three new MTS contracts in the life sciences and healthcare segment and expanded its relationship with two global technology majors.
Commenting on the Quarter, Sapnesh Lalla, CEO, NIIT Limited said, "Both the Corporate Learning Group and the Skills and Careers Group recorded strong topline growth. The agile and decisive actions we took over the last several months have enabled the business to continue to create more value for our customers".
Skills & Careers Group (SNC) recorded net revenue of Rs. 37.8 Cr, up 62% YoY during Q1. SNC has successfully transitioned its customers to the NIIT Digital platform and through this, learners are able to access their learning plans and all associated content and services digitally.
During the quarter NIIT Digital launched programs in Cloud Computing & Cybersecurity to meet the demand for job roles in the digital sector. NIIT Digital also announced the launch of Data Science Foundation Program and Advanced Post Graduate Program (PGP) in Data Science and Machine Learning, to create Day 1 industry-ready Certified Data Science professional.
NIIT entered into a partnership with Sushant University, one of the leading education institutions situated in Gurugram, to offer their upcoming batches of Bachelors in Computer Applications (BCA) and Bachelors in Technology (B Tech) in Computer Science, specializations in Banking & Finance, and StackRoute – Full Stack Product engineering respectively.
For the quarter NIIT Institute of Finance Banking and Insurance (NIIT IFBI) and Axis Bank launched a FinTech Professional Programme under the Axis Bank - NIIT Digital Banking Academy. The course is designed to build future ready FinTech Professionals for Axis Bank.
A leading global retailer signed up with StackRoute, an NIIT venture, for building data science capabilities for its analytics team based in India. A large global IT services organization also signed up with StackRoute to build capabilities on hybrid cloud across application development and infrastructure management.
- NIIT won the 'Best Skill Learning Company' award at the 11th Annual EdTech X Indian Education Awards 2021.
- NIIT was ranked number two amongst all learning providers on the HRO Today's Baker's Dozen Customer Satisfaction Ratings™ for Learning and Development in 2021.
- NIIT was featured on the Training Industry, Inc. Top 20 Companies List for Training Outsourcing for the fourteenth consecutive year.
- NIIT was ranked among the Top 20 Companies in Content Development by Training Industry. Inc. for the eleventh consecutive year.
About NIIT Limited
NIIT Limited is a global skills and talent development company and a leading provider of managed training services. Set up in 1981 to help the nascent IT industry overcome its human resource challenges, the organisation today ranks among the world's leading training companies owing to its vast and comprehensive array of talent development programs. With a footprint in over 30 countries, it offers training and development solutions to Individuals, Enterprises and Institutions. NIIT has two main lines of business across the globe – Corporate Learning Group and Skills & Careers Business.
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, Retail Sales Enablement, Digital Media Marketing, and new-age IT. NIIT has incubated, StackRoute, as a digital transformation partner for corporates to build multi-skilled full stack developers at scale. As online and remote learning becomes mainstream, the robust NIIT Digital platform connects the corporate and individual learners seamlessly and provides an environment for improving learning effectiveness and efficiency.
NIIT has been featured as the only company in Educational Services Industry, in the Fortune India 500 list 2020. The company was recognised as "Best Education Company to work with" at Indian Education Congress & Awards 2020. NIIT's learning and talent development solutions, continue to receive widespread recognition globally. NIIT has been named among the Top 20 Training Outsourcing Companies globally for the past twelve 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.
For more information about NIIT visit: www.niit.com
For Media query, Please contact
For Media queries please contact
Senior Vice President, Corporate Communications & Marketing, NIIT Limited
Ph: (Cell) +91 9910201085, (Dir) +91 124 4293041
Corporate Communications & Marketing, NIIT Limited
Ph: (Cell) +91 9999601154, (Dir) +91 124 4293042
Investors may contact:
Kapil Saurabh, NIIT Limited,
Ph (Cell) +91 9899117793,
(Dir) +91 124 4293324
Visit us at: www.niit.com
Follow us on: www.twitter.com/niitltd