- Revenue recorded at Rs. 201.8 Cr, PAT at Rs. 29.0 Cr.
- EBITDA margin recovers to 12.1% after a sharp decline in Q4
- CLG records revenue growth of 17% YoY with EBITDA margin of 17%
- Adds 3 new MTS logos, taking revenue visibility to $263 Mn
|
NIIT Limited Consolidated Financials for Quarter ended June 30, 2020 |
| | | | |
| (in Rs. Crore) |
Quarter ended June 30, 2020 |
Quarter ended March 31, 2020 |
QoQ change |
Quarter ended June 30, 2019 |
YoY change |
| Net Revenue | 201.8 | 211.2 | -4% | 201.8 | - |
| EBITDA | 24.3 | 3.1 | +21.2 Cr. | 24.3 | - |
| EBITDA % | 12.1% | 1.5% | 1059 bps | 12.0% | 2 bps |
| Profit After Tax | 29.0 | 0.6 | +28.4 Cr. | -1.5* | +30.5 Cr. |
*On a like to like basis, after excluding one-time capital gain on divestment in Q1 FY20
New Delhi, July 31, 2020: NIIT Limited (NSE: NIITLTD), a global leader in skills and talent development, today reported its results for the first quarter ending June 30, 2020. During the quarter, the company recorded a Net Revenue of Rs. 201.8 Cr. EBITDA was Rs. 24.3 Cr. and the EBITDA margin stood at 12.1%. Profit After Tax was recorded at Rs. 29 Cr.
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, "Agile and decisive actions on strategy and cost control helped the company to garner new revenue opportunities and recover profitability which had declined sharply in the previous quarter."
Corporate Learning Group (CLG) recorded net revenue of Rs. 178.5 Cr, up 17% YoY. CLG added 3 new managed training services contracts (Including 2 Lifesciences customers and 1 Global Leader in Social Media) and expanded its relationship with one existing client. The number of MTS customer tally stands at 55 and Revenue Visibility at the end of the quarter was at $ 263 million.
During the quarter NIIT extended its partnership with a leading global clinical research and Human Data Sciences company for another five years. NIIT will continue to provide a full range of managed learning services, covering training delivery, consultancy, and content design and development.
Commenting on the Quarter, Sapnesh Lalla, CEO, NIIT Ltd. said, "In spite of the pandemic, our customers continue to repose their faith in NIIT, as we continue to see high deal velocity and renewals with a strong and healthy pipeline."
During the quarter, NIIT ranked among the Top 20 Training Outsourcing Companies, 2020. NIIT has been ranked amongst Top 20 for thirteen consecutive years.
Skills & Careers Group (SNC) recorded net revenue of Rs. 23.3 Cr during Q1. The India business growth for the quarter was driven by NIIT digital platform and StackRoute business. SNC has transitioned its customers to the NIIT Digital platform and through this, learners are able to access their learning plans and all associated content and services digitally.
During the quarter NIIT announced that it has specially designed and launched the NIIT 'Remote Work Excellence Kit' course to support India's fight against COVID-19. StackRouteTM, an NIIT venture announced the launch of 'Post Graduate Program in Full Stack Product Engineering' for fresh engineering graduates and young professionals.
For the quarter, NIIT also announced virtual 'FutureReady Fest', an initiative to encourage students to enhance their knowledge on new-age skills through future ready programs, together with their regular studies and academic curriculum.