- Q3 Revenue at Rs. 852 million, grows 5% QoQ
- EBITDA at Rs. 78 million, EBITDA margin at 9%, up 646 bps QoQ and up 55 bps YoY
- Profit After Tax at Rs. 144 million, up 35% QoQ
|
NIIT Limited Consolidated Financials for Quarter ended December 31, 2023 |
|||
|
(in Rs. million) |
Quarter ended December 31, 2023 |
Quarter ended September 30, 2023 |
QoQ change |
|
Net Revenue |
852 |
814 |
5% |
|
EBITDA |
78 |
22 |
+Rs. 56 million |
|
Profit After Tax |
144 |
106 |
+ Rs. 38 million |
Note: Results include impact of the demerger of NLSL from NIIT Limited from April 1, 2022
New Delhi, February 02, 2024: NIIT Limited (Ticker Symbol: NIITLTD), a leading skills & talent development corporation, today announced its financial results for the third quarter ended December 31, 2023.
During the quarter, the company recorded Net Revenue of Rs. 852 million, up 5% QoQ and down 9% YoY. EBITDA was recorded Rs. 78 million as compared to Rs. 22 million in Q2 FY24. Profit After Tax was Rs. 144 million as compared to Rs. 106 million in Q2 FY24 and Rs. 143 million in Q3 FY23.
The results were taken on record at the Board of Directors meeting held today.
Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited, commented, “We are expanding in BFSI and increasing penetration across GCCs. We continue to see sequential recovery in business despite the ongoing hiring freeze in the technology sector.”
During the quarter, the company provided training for over 10,000 employees of prominent private banks and financial services companies. The company is also working with several customers to train and equip their workforce on Gen AI skills and working with some of them to build organization-wide learning paths focused on Gen-AI.
In Q3, NIIT’s wholly owned subsidiary, RPS Consulting announced partnership with ServiceNow, leveraging unique expertise to extend ServiceNow solutions to more organizations and markets. The company also entered a partnership with OffSec, to deliver cutting-edge cybersecurity solutions and empowering organizations with advanced security expertise.
Rajendra S Pawar, Chairman and Co-Founder, NIIT Group, said, “At NIIT, we believe in empowering individuals to realize their true potential, and the results demonstrate our contribution in shaping skilled and capable workforce for the future. We are investing in new offerings across AI and other new age skills that are expected to lead to aspirational careers for both early career and working professionals.”