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Press Release
NIIT Limited Announces Q2 (July-Sept ‘09) Consolidated Results 2009-10
• Global System-wide Revenue up 19% YoY at Rs 555 Cr
• EBITDA up 22% YoY at Rs 49 Cr
• School Learning Solutions Net Revenue up 175% YoY
• Board approves raising of Rs 230 Cr through equity and
convertible warrants
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NIIT Limited : Consolidated Financials at a Glance (in Rs Cr)
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Qtr ended
Sept 30,'08
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Qtr ended Sept 30,'09 |
Growth
YoY
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Global System-wide Revenue
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468.0
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555.6 |
19%
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Net Revenue
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309.5
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359.8 |
16%
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EBITDA
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40.6
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49.6 |
22%
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Profit After Tax
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29.7
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26.2 |
(12%)
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New Delhi, October 26, 2009: For the quarter ending September 30, 2009, NIIT Limited, the leading Global Talent Corporation recorded global system-wide revenue of Rs 555.6 Cr, an increase of 19% YoY and net revenue of Rs. 359.8 Cr, an increase of 16% YoY. The company recorded an EBITDA of Rs 49.6 Cr up 22% YoY. PAT of Rs 26.2 Cr was impacted by higher depreciation in company operations and forex volatility in share of associates’ profits.
The results were taken on record at the meeting of the Board of Directors of NIIT Limited here today.
The results were taken on record at the meeting of the Board of Directors of NIIT Limited here today.
According to Mr. Rajendra S Pawar, Chairman, NIIT Limited, “A healthy revenue growth of 16% was achieved through aggressive actions in India and other emerging economies while US/Europe faced challenges”
Individual Learning Solutions recorded 17% YoY growth in Global System-wide revenue, YoY. In this quarter, India enrolments increased by 8% YoY driven by the introduction of full range of programs in the Infrastructure Management Services (IMS) domain and ERP training for Small and Medium Businesses. Enrolments in the IMS courses saw a 43% growth during the quarter. Placements continued to be robust taking the growth to 45% year todate.
In international markets, NIIT further strengthened its position with the announcement of its university tie-up in Nigeria, successful commencement of training programs in South Africa, launch of additional PPP centres in China and the scholarship drive in Nigeria and Vietnam.
In the 10th NIIT Nigeria Scholarship about 200,000 students registered for the test, an increase of 100% over last year.
In the 10th NIIT Nigeria Scholarship about 200,000 students registered for the test, an increase of 100% over last year.
Last week, NIIT and IBM entered into an alliance to offer training programs on IBM’s Career Education in IBM Software framework. Starting with curriculum for the Rational suite of software testing and quality assurance, the partnership will be extended in successive phases across other IBM technologies.
NIIT received the Dataquest Top IT Training Company Award 2009 for the 17th year in succession. NIIT, USA, has been honored by TechAmerica Southeast with a 2009 Spirit of Endeavor award for Leadership in Technology Education.
NIIT received the Dataquest Top IT Training Company Award 2009 for the 17th year in succession. NIIT, USA, has been honored by TechAmerica Southeast with a 2009 Spirit of Endeavor award for Leadership in Technology Education.
Commenting on the company’s Q2 performance, Mr Vijay K. Thadani, Chief Executive Officer, NIIT Limited, said “Market share gain in focused segments, high execution efficiency and sustained cost management actions led to 22% YoY EBITDA growth in the quarter”
In Corporate Learning Solutions, NIIT recorded a strong performance with 16% growth in e-learning products.
NIIT, USA, has been awarded the Gold for Excellence in E-Learning in the 2009 Learning in Practice Awards from Chief Learning Officer Magazine.
NIIT, USA, has been awarded the Gold for Excellence in E-Learning in the 2009 Learning in Practice Awards from Chief Learning Officer Magazine.
Corporate Learning Solutions recorded strong growth in EBITDA margin, an increase of 492 basis points YoY reflecting the benefit of cost containment actions.
During the quarter, NIIT received the prestigious CIO 100 Award 2009, presented by CIO Magazine, for the pioneering work done on revamping its website: www.niit.com and the Polycom Intelligent Enterprise Award at the Technology Senate 2009 for its Synchronous Learning Technology.
During the quarter, NIIT received the prestigious CIO 100 Award 2009, presented by CIO Magazine, for the pioneering work done on revamping its website: www.niit.com and the Polycom Intelligent Enterprise Award at the Technology Senate 2009 for its Synchronous Learning Technology.
School Learning Solutions recorded 76% growth in EBITDA on a higher revenue base.
Mr. P. Rajendran, COO, NIIT said, “Successful implementation of our learning solutions in 3500 schools in the first half of this year - the highest ever, demonstrated our capability in execution excellence of large projects. This led to significant revenue growth of 175% in School Learning Solutions in this quarter”
NIIT swept the Digital Learning category in eIndia 2009 awards, winning: ICT Enabled School of the Year Award (The Scindia School), Civil society / Development agency Initiative of the year (Hole in the Wall Education), Government / Policy Initiative of the year (Implementation of Shared Computing in Govt. schools, Andhra Pradesh).
Board approves raising of Rs 230 Cr
The Board of NIIT approved raising of Rs 230 Cr by way of Qualified Institutional Placements (QIP) of equity and/or other instruments convertible into equity of up to Rs 200 Cr (including premium) and Convertible Warrants to promoters of up to Rs 30 Cr (including premium).
The funds raised would strengthen the balance sheet of the company, and would augment long term resources for growth requirements of its current and new businesses and of the emerging opportunities in the Education and Training sector.
Mr. P. Rajendran, COO, NIIT said, “Successful implementation of our learning solutions in 3500 schools in the first half of this year - the highest ever, demonstrated our capability in execution excellence of large projects. This led to significant revenue growth of 175% in School Learning Solutions in this quarter”
NIIT swept the Digital Learning category in eIndia 2009 awards, winning: ICT Enabled School of the Year Award (The Scindia School), Civil society / Development agency Initiative of the year (Hole in the Wall Education), Government / Policy Initiative of the year (Implementation of Shared Computing in Govt. schools, Andhra Pradesh).
Board approves raising of Rs 230 Cr
The Board of NIIT approved raising of Rs 230 Cr by way of Qualified Institutional Placements (QIP) of equity and/or other instruments convertible into equity of up to Rs 200 Cr (including premium) and Convertible Warrants to promoters of up to Rs 30 Cr (including premium).
The funds raised would strengthen the balance sheet of the company, and would augment long term resources for growth requirements of its current and new businesses and of the emerging opportunities in the Education and Training sector.
Board grants options under ESOP
The Board approved the grant of stock options to over 500 managers of the company, under the existing Employee Stock Option Plan.
The Board approved the grant of stock options to over 500 managers of the company, under the existing Employee Stock Option Plan.
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