NIIT Limited announces Q1 (April- June 2012) Consolidated Results FY 2012-13

Quarter 1 highlights on a continuing business basis
 
 
·        Q1 PAT up 110% YoY at Rs. 11.5 Cr
·        Net Revenue up 4% YoY at Rs. 227.5 Cr
·        Managed Training Services revenue up by 42% YoY
·        267 Private schools added, up 54% YoY
 
NIIT Limited: Q1 (Apr-Jun, 2012)
Consolidated Financials at a glance for Quarter ended June 30, 2012
                                                                     (in Rs. Crores)
Net Revenue
227.5
EBITDA
11.4
EBITDA %
5%
Profit After Tax
11.5
 
(In view of the divestment in Element K during FY 2011- 12, the following table represents the YoY comparison on aContinuing business basis)
 
NIIT Limited : Q1 (Apr – Jun 2012)
Consolidated Financials on a Continuing business basis for Quarter ended June 30, 2012*
 
Quarter ended
June 30, 2011
(in Rs. Cr)
 
Quarter ended
June 30, 2012
(in Rs. Cr)
 
Growth YoY
Net Revenue
219.0
227.5
4%
EBITDA
16.7
11.4
(32%)
PAT
5.5
11.5
110%
*Excluding financials of Element K
New Delhi, July 25, 2012:NIIT Limited, leading Global Talent Development Corporation and Asia’s largest IT trainer, today reported its results for the first quarter ending June 30, 2012. In this quarter, the company recorded a PAT of Rs. 11.5 Cr, up 110% YoY and a Net Revenue of Rs. 227.5 representing a 4% YoY growth on a continuing business basis.
The results were taken on record at the meeting of the Board of Directors here today.
During the quarter, Corporate Learning Solutions (CLS) recorded net revenues ofRs.73 Cr, up 20% YoY.Order intake for CLS grew 22% YoY. Of the total order book, 66% is executable over the next 12 months.
 
Mr Vijay K Thadani, Chief Executive Officer, NIIT Limited said “The Corporate Training Business recorded growth of 42% in Managed Training Services (MTS), reflecting strong customer confidence.”
 
Career Building Solutions (CBS)recorded net revenue of Rs. 107.4 Cr during Q1 on the back of a challenging economic and business environment.
During the quarter, NIIT launched the new GNIIT program,an all-new cloud-centric curriculum to develop future-ready professionals. The new GNIIT program is enriched with the insights from the industry and highlights the life-changing experiences of GNIIT alumni. The program maximizes career opportunities by developing skill-sets for job profiles such as Cloud Applications Developer, Enterprise Application Developer, Business Intelligence Solutions Developer, Server Administrator and Network Administrator.
Slower GDP growth impacted market sentiments. Though the level of interest continued to be high for NIIT courses, conversions were subdued and decisions delayed due to market conditions.
Speaking on the company’s commitment towards developing talent attuned to the industry need, Mr. Rajendra S Pawar, Chairman, NIIT Limited said, “Sensing the uncertainty in job markets we are focused on short-term IT and Banking programs, and on enhancing the employability of our students.”
During the quarter, enrolments at NIIT Institute of Finance, Banking & Insurance Training Ltd. (IFBI) grew 85% YoY.
NIIT Imperiaregistered a growth of 26% YoY in enrolments during Q1. It announced the launch of Executive Program in Corporate Regulations: Legal and Business Implications, in collaboration with Indian Institute of Management Calcutta. The program has been designed to offer in-depth understanding of regulatory and legal framework in business transactions to professionals working in this space.
NIIT Imperia courses were acknowledged as the - ‘Outstanding Blended Course’, at the World Education Congress.
School Learning Solutions (SLS) recordednet revenue ofRs.47 Cr during the quarter, up 17% YoY.
 
Referring to NIIT’s emphasis on private schools, Mr P Rajendran, Chief Operating Officer, NIIT Limited said, "Our focus on providing nGuru solution for private schools resulted in addition of 267 new schools during the quarter, with a revenue growth of 22% YoY."
NIIT’svocational skills training initiative - NIIT Yuva Jyoti, established in partnership with National Skill Development Corporation (NSDC) added 2 new centres this quarter, taking the total number of centres to 8, with enrolments exceeding 1600 since commencement.
Recognizing the outstanding people practices at NIIT Ltd, the company has recently been rated as No.1 in the Education and Training category and amongst `Top 10 India’s Best Companies to Work for - 2012’, by Great Place to Work Institute.