Press Release

2014

NIIT Limited announces Q3 (Oct - Dec 2013) Consolidated Results FY 2013-14

NIIT records Net Revenue at Rs 233.6 CrPAT at Rs. 1.2 Cr, up 153% YoYCorporate Learning Solutions grows 34% YoYEnrolments for Banking programs up by 33% YoY

NIIT Limited announces Q3 (Oct-Dec 2013) Consolidated Results FY 2013-14




Qtr ended
Dec 31, 2012
Qtr ended
Dec 31, 2013
Growth YoY
Net Revenue
232.7
233.6
-
EBITDA
7.7
14.3
84%
EBITDA%
3%
6%
279 bps
Profit After Tax
0.5
1.2
153%
 
New Delhi, January 17, 2014: NIIT Limited, leading Global Talent Development Corporation, today reported its results for the third quarter ended December 31, 2013. In this quarter, the company recorded Net Revenue of Rs. 233.6 Cr with PAT of Rs 1.2 Cr. EBITDA grew 84% YoY registering a 279 bps YoY growth in Operating margin. 

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

Commenting on the company’s performance, Mr Rajendra S Pawar, Chairman, NIIT Limited said, “The margin growth of 279 bps, points to the underlying revival in business.”

Corporate Learning Solutions (CLS) recorded net revenues of Rs. 105.9 Cr., up 34% YoY during the quarter. It added 3 new contracts in Q3, taking the Pending Order book for CLS to Rs 257 Cr. executable over the next 12 months.
 
Mr Vijay K Thadani, Chief Executive Officer, NIIT Limited said “NIIT has been able to take advantage of the developing opportunities in the US market to record a 31% YoY increase in order intake in its Corporate Learning Business.”

Career Building Solutions (CBS) recorded net revenue of Rs. 91.7 Cr during the quarter. The pioneering Cloud campus initiative has now expanded to cover 92 courses across 210 centres with a cumulative enrolment of over 53,000 students. Placements during the quarter stood at 8,117 students.

 
Into its fourth decade of leadership in Global Talent Development, NIIT extended its portfolio by introducing a cutting-edge program in “Business Analytics” during the quarter. NIIT rolled out the comprehensive and unique program to develop the next generation of data scientists and business analytics professionals.

 
NIIT Imperia launched two new management programs during the quarter, in partnership with IIM Trichy:  Post Graduate Certificate in Brand & Advertising Management and Essentials for Finance.

NIIT Institute of Finance, Banking & Insurance Training Ltd. (IFBI) strengthened its leadership position in the industry, with fresh banking enrolments registering an increase of 33% YoY.

School Learning Solutions registered net revenue of Rs. 35.5 Cr. during the quarter.

During the quarter, NIIT unveiled ITWizard Plus, a unique end-to-end solution that brings to the school all the key elements required by the teachers and students for learning and managing IT. NIIT also trained 1,899 teachers and school principals on CCE (Continuous and Comprehensive Evaluation) and leadership training across the country, as an empanelled member of CBSE (Central Board of Secondary Education).

Mr P Rajendran, Chief Operating Officer, NIIT Limited said, “The initial response to IT Wizard’s new avatar launch, has been encouraging. We are confident that this will result in good business from the next quarter onwards.”
 
NIIT’s vocational skills training initiative - NIIT Yuva Jyoti, established in partnership with National Skill Development Corporation (NSDC) continued to gain momentum, expanding its reach to a total number of 52 locations, with over 13,000 enrolments since commencement.
Other highlights:TrainingIndustry.com, a global resource for training and development companies, has recognised NIIT as one of the world’s Top 20 IT training organisations for 2013.The quarter saw NIIT reaffirming itself as a Youth connect brand, through the hugely successful social media campaign #Wish4Vishywww.wish4vishy.com.  The campaign became a national movement with wishes pouring in for NIIT MindChampion Viswanathan Vishy) Anand prior to the World Chess Championship 2013, reaching out to over 60 lakh fans and well wishers of Vishy across the globe.