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Q1 Net Profit up 32% YoY ·Q1 PAT up 32 % YoY at Rs. 13 Cr on a Net Revenue of Rs. 278 Cr ·School Learning Solutions records order intake of Rs. 158 Cr; Adds 1,231 schools ·Corporate Learning Solutions records order intake of USD 34 Mn ·China revenue grows 32% YoY |
New Delhi, July 21, 2010: NIIT Limited, leading Global Talent Corporation and Asia’s largest IT trainer, today reported its results for the first quarter ending June 30, 2010. In this quarter, the company recorded Profit after Tax of Rs 13 Cr representing a 32% growth YoY.
The Company’s Net Revenue stood at Rs. 278 Cr, up 7% YoY with System Wide Revenue growing by 9% YoY to Rs. 401 Cr. The EBITDA was at Rs. 28.7 Cr reflecting a margin of 10%.
The results were taken on record at the meeting of the Board of Directors of NIIT Limited here today.
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NIIT Limited : Consolidated Financials at a Glance (in Rs Cr) |
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Qtr ended Jun 30,‘09 |
Qtr ended Jun 30,‘10 |
Growth |
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Global System-wide Revenue |
368.8 |
401.3 |
9% |
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Net Revenue |
261 |
278 |
7% |
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Profit After Tax |
9.9 |
13.0 |
32% |
Commenting on the company’s Q1 performance, Mr Rajendra S Pawar, Chairman NIIT Limited, said, “We are making investments in people and marketing to cater to strong hiring in IT & other service sectors.”
During the quarter NIIT launched training programs on Microsoft’s Azure platform, with a view to create talent for the fast growing cloud computing space. Under the ‘Global Partnership’ program with IGNOU, a series of ‘finishing school programs’ for enhancing employability were launched.
Corporate Learning Solutions (CLS)recorded a net revenue of Rs. 137.7 Cr. Order intake for CLS was at USD 34 Mn for the quarter as a result of significant customer wins in Learning Products and Managed Training Services. The closing order book stood at USD 93 Mn, up 15 % YoY.
Mr Vijay K. Thadani, Chief Executive Officer, NIIT Limited, said “The Corporate Training Business recorded fresh order intake of USD 34 Mn, reflecting strong customer confidence”
Individual Learning Solution (IT) recorded a net revenue of Rs 90.8 Cr, supported by 8 % increase in global enrolments. Placements grew at 14% YoY on the back of improving hiring. A revenue growth of 32% was recorded in China individual business.
New Businesses led by Finance & Management Training (FMT) recorded a 122% YoY growth in revenue. Enrolments in FMT business witnessed a growth of 125% YoY during this quarter. Institute of Finance, Banking and Insurance (IFBI) added 4 more banking partnerships, while NIIT Imperia launched an Executive MBA Program for Working Professionals in partnership with IGNOU.
School Learning Solutions (SLS) recorded a net revenue of Rs 38.4 Cr backed by fresh order intake of Rs 158.6 crores, representing an addition of 1,231 schools during the quarter. NIIT launched the ‘Mobile Science Lab’, an innovative learning solution which integrates Science Lab with classrooms.
According to Mr P Rajendran, Chief Operating Officer, NIIT Limited, “Focused growth in private schools segment coupled with launch of innovative products such as the Mobile Science Lab, has led to a healthy order intake of Rs. 158.6 Cr covering 1,231 schools.”
Other Highlights of Q1:
· Element K wins the Brandon Hall Silver Excellence Award for blended learning
· NIIT (US) Accepts Honors for Learning and Talent Management Solution at Bersin Impact 2010 Conference
· NIIT (US) ranks amongst Top 10 Training & Learning Business Process Outsourcing Vendor in – Black Book of Outsourcing
· NIIT Vietnam bags the ICT GOLD MEDAL, consecutively for the 5th time and ICT TOP 5 for the year 2010
· NIIT HiWEL wins the prestigious Mac Arthur Digital Media and Learning Award
· NIIT MindChampion Viswanathan Anand became the World Chess Champion for the 4th time. NIIT’s association with World Chess Champion, Viswanathan Anand, including contractual extensions, is the longest running Brand Ambassador contract in the history of Indian sport.