- Profit After Tax recorded at Rs. 1090.4 Cr, which includes one-time income on account of divestment of NIIT Limited's shareholding in NIIT Technologies Limited
- Revenue recorded at Rs. 210.3 Cr; EBITDA up 16% YoY at Rs. 22 Cr
- Corporate Learning Group (CLG) records revenue visibility of US$ 264 Mn, up 18% YoY
- Skills & Careers Group (SNC) records 15% YoY growth on Go forward business
|
NIIT Limited Consolidated Financials for Quarter ended June 30, 2019 |
| | |
| (in Rs. Crore) |
Quarter ended June 30, 2019 |
Quarter ended June 30, 2018 |
YoY change |
| Net Revenue | 210.3 | 214.3 | -2% |
| EBITDA | 22 | 19 | 16% |
| EBITDA % | 10.4% | 8.8% | 159 bps |
| Profit After Tax | 1090.4 | 17.9 | Rs. 1072.5 |
New Delhi, August 10, 2019: NIIT Limited (NSE: NIITLTD), a global leader in skills and talent development, today reported its results for the first quarter ending June 30, 2019. During the quarter, the company recorded a Net Revenue of Rs. 210.3 Cr. EBITDA was recorded at Rs. 22 Cr, up 16% YoY at an Operating Margin of 10.4%, up 159 bps YoY. Profit After Tax recorded at Rs. 1090.4 Cr, which includes one-time income on account of divestment of NIIT Limited's shareholding in NIIT Technologies Limited
The results were taken on record at the meeting of the Board of Directors held today.
Speaking on the occasion, Mr. Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, "The increase in revenue visibility for Corporate Learning Group and the growth in Go forward business in Skills & Careers, vindicate the company's strategy and reaffirm the confidence of customers, in our ability to add value."
The Board took note of the Closing of the transaction for sale of NIIT's stake in NIIT Technologies Limited. The transaction was closed on May 17, 2019 after necessary approvals. NIIT Ltd. received gross proceeds of Rs. 2020.4 Cr. in cash on Closing.
On May 25, 2019, the Board had proposed a Dividend of Rs. 5 per share and constituted a committee to make recommendations for utilization of proceeds for rewarding shareholders, subject to statutory limits and necessary approvals, and after providing for transaction related costs, taxes, retirement of debt, growth capital and a prudent Indemnity reserve.
Based on the recommendation of the committee, the Board has approved a proposal to buyback up to 2,68,00,000 (Two crore sixty eight lakh) Equity Shares from the shareholders of the Company at Rs. 125 per share, representing approximately 16% of the total paid up equity share capital for an aggregate amount not exceeding Rs. 335,00,00,000 (Three hundred and thirty five crore).
Corporate Learning Group (CLG) recorded net revenue of Rs. 152.4 Cr. CLG signed 5 new Managed Training Services (MTS) contracts in Q1, taking MTS customers tally to 49. CLG recorded revenue visibility of US$ 264 Mn, up 18% YoY.
During the quarter NIIT was selected as a 2019 Top 20 Gamification Company for the sixth consecutive year by TrainingIndustry.com. Training Industry continuously monitors the training marketplace looking for the best providers of gamification services/ technologies in support of corporate learning and development.
Skills & Careers Group (SNC) recorded net revenue of Rs. 51.7 Cr during Q1. The SNC Go forward business grew by 15% YoY. The India business grew for the second successive quarter driven by growth in TPaaS (Talent Pipeline as a Service) and StackRoute.
The Skills & Careers Group announced the #FutureReadyTalent initiative to empower aspiring professionals through future ready programs. As part of this initiative, NIIT is conducting seminars in 15 cities across India, wherein successful leaders from diverse fields share their experiences with the youth, making them aware about the importance of new-age future ready careers. In addition, a focused industry round table discussion was also organized at the India Habitat Centre in Delhi, with thought leaders and CXOs under this initiative.
During the Quarter NIIT bagged the ASSOCHAM Education Excellence Awards 2019 as the 'Best Innovative Brand' in the Education sector. NIIT has received the award for company's continuous effort to offer new-age Career Programs to address the changing workforce requirements of the industry.
Commenting on the Quarter results, Sapnesh Lalla, CEO, NIIT Ltd. said, "NIIT's business lines continued to show traction during Q1. While CLG acquired 5 new MTS customers during the quarter, SNC's Go forward Businesses grew at 15% YoY. StackRoute and TPaaS (Talent Pipeline as a Service) continue to demonstrate strong growth momentum."
MindChampion Learning Systems Limited (MLSL) registered net revenue of Rs. 6.2 Cr.
Awards & Acknowledgements:
- NIIT ranked among the Top 20 Training Outsourcing Companies by TrainingIndustry.com 2019 for the twelfth consecutive year.
- StackRoute, a digital transformation partner for corporates to build multi-skilled full stack developers at scale, has won the 'Digital Transformation Learning Partner of the Year for Enterprises' award at Digital Transformation Summit & Awards.
- NIIT named to 2019 Training Industry Top 20™ List in Content Development for the ninth consecutive year.
- NIIT has been listed among the Top 20 Highest-Performing Learning Providers 2019 by the Learning and Performance Institute, UK.