NIIT Limited Announces Q1 (Apr-Jun ‘09) Consolidated Results 2009-10
·EBITDA grows 53% to Rs 28.6 Cr
·School Learning Solutions revenue up 43% YoY
·Order Intake of Rs 107.5 Cr in School Learning Solutions
·USD 31 Mn Order Intake for Corporate Solutions
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NIIT Limited : Consolidated Financials at a Glance (in Rs Cr) |
|||
|
|
Qtr ended |
Qtr ended |
Growth |
|
Global System-wide Revenue |
366.4 |
368.8 |
1 % |
|
Net Revenue |
259.5 |
261 |
1 % |
|
EBITDA |
18.7 |
28.6 |
53% |
|
Profit After Tax |
17.0 |
9.9 |
-42% |
New Delhi, July 29, 2009: For the first quarter ending June 30, 2009, NIIT Limited, the leading Global Talent Corporation recorded net revenue of Rs 261 Cr and EBITDA of Rs 28.6 Cr , an improvement of 373 basis points, YoY. PAT at Rs 9.9 Cr was impacted by forex volatility, both, in operations and share of associates’ profits.
The results were taken on record at the meeting of the Board of Directors of NIIT Limited here today.
Growth in market share and revenue in School Learning Solutions, Corporate Learning Products and Individual Learning Solutions, China helped to offset the impact of the environment in the US and Europe market.
Commenting on the company’s Q1 performance, Mr Vijay K. Thadani, Chief Executive Officer, NIIT Limited, said “Effective management of costs resulted in 53% growth in EBITDA, in a challenging environment”
Improved product mix, better management of headcount and overhead costs resulted in higher operating efficiency and improved operating margin.
According to Mr Rajendra S Pawar, Chairman, NIIT Limited, “Forex volatility adversely affected profit from operations as well as the share of associates’ profits”.
Individual Learning Solutions
NIIT launched the GNIIT (IMS) program developed in association with technology partners- Cisco, CompTIA, EMC, Microsoft, and Sun with the aim of meeting the industry’s growing need for certified professionals. The curriculum combines the strengths of technology partners to develop specialized skills in domains like Networking, Storage Management, Server and Datacentre management, Desktop and Application Support and Emerging Specializations like Security and Virtualization. With this launch, NIIT increased its share and IMS enrolments grew by 92% YoY. In China, NIIT enrolments grew by 63% due to introduction of new technology products and expanding centres under Public Private Partnership model
In this quarter, placements were up 87% due to continued robust demand for industry-ready trained IT professionals.
School Learning Solutions reported strong growth in revenue driven by demand from Government and Private schools. During the quarter, NIIT received mandate to provide computer aided education across 1,870 Government schools in Gujarat.
According to Mr P Rajendran, Chief Operating Officer, NIIT Limited, ‘The School Learning Solutions showed healthy growth of 43% with 1,984 new schools added in the quarter”
SLS recorded 89% growth in EBITDA due to increased revenue and operating leverage. Order Intake for the quarter stands at Rs 107.5 Cr leading to an order book of Rs 397.1 Cr
Corporate Learning Solutions recorded EBITDA improvement of 739 basis points. In Corporate E-learning products, NIIT improved its market share with revenue growing 23% YoY. Fresh Order Intake was USD 31Mn leading to pending Order Book of USD 81Mn of which 63% is executable in the next 12 months.
New Business - Finance & Management Training and NIIT Uniqua
With the addition of 3 new executive management programs in Supply Chain Management, Advanced program in Competitive Strategy and HR Management, NIIT Imperia extended its offering to 25 Programs. NIIT Imperia tied up with Financial Management Service Foundation, Delhi.
For the BFSI sector, IFBI enhanced its offering by launching a new set of programs under the ‘BFS series’ and also added Dhanalakshmi Bank as a partner.
Other Highlights of Q1:
·NIIT was recognized among Bersin & Associates Learning leaders
·NIIT received the ICT Gold Medal – Vietnam for the 4th year in a row.
·NIIT received the Best Learning Partner award from CISCO and Microsoft
·IFBI was recognized as the Best Training School by The Week – Nielsen survey
·NIIT received the Best Green IT Project award by PC Quest for V-lab.
·Basic computer education program, “Swift” gained national mindshare as 7,000 students from 500 schools across India competed at ‘Vish Come True’ national Chess competition, for a chance to play with NIIT MindChampion Viswanathan Anand.