NIIT Limited announces Q3 (Oct - Dec 2012) Consolidated Results FY 2012-13

Quarter 3 highlights on a continuing business basis
 
·        Records Net Revenue at Rs 232.7 Cr
·        Corporate Learning Solutions grows 14% YoY, led by 6 MTS orders
·        School Learning Solutions grows 35% YoY
·        Fresh Career Enrolments for Banking programs grow 33% YoY
·        Strengthens IT Training offerings; Inks MoU with NASSCOM with a vision to provide industry-aligned training to over 1 lakh students in the next three years
 
NIIT Limited: Q3 (Oct - Dec, 2012)
Consolidated Financials at a glance for Quarter ended December 31, 2012
                                                                     (in Rs. Cr)
System wide Revenue
398.5
Net Revenue
232.7
EBITDA
7.7
EBITDA %
3%
Profit After Tax
0.5
 
(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 : Q3 (Oct - Dec 2012)
Consolidated financials on a continuing business basis for quarter ended December 31, 2012*
 
Quarter ended
December 31, 2011
(in Rs. Cr)
 
Quarter ended
December 31, 2012
(in Rs. Cr)
Net Revenue
239.0
232.7
PAT
(16.9)
0.5
*Excluding financials of Element K
New Delhi, January 18, 2013:NIIT Limited, leading Global Talent Development Corporation and Asia’s largest IT trainer, today reported its results for the third quarter ending December 31, 2012. In this quarter, the company recorded a Net Revenue of Rs. 232.7 Cr with a PAT of Rs 0.5 Cr.
The results were taken on record at the meeting of the Board of Directors here today.
Career Building Solutions (CBS)recorded net revenue of Rs. 103.4 Cr during the quarter.Despite a challenged quarter, NIIT graduate’s job-readiness and acceptance by the industry continued to be favourable with 8,879 students getting placed during Q3. At the same time, the short-term technology courses registered a growth of 9%.
Into its fourth decade of leadership in Global Talent Development, NIIT extended its portfolio to provide training for Commerce graduates and Digital Marketing professionals during the quarter. NIIT rolled out the Diploma in Applied Financial Management for B.Com students and entered into a tie-up with Digital Marketing Institute (Ireland) to create a globally competitive resource pool for the fast evolving digital marketing industry in India.
NIIT strengthened its IT training portfolio during the quarter, by entering intoa MoU with NASSCOM to enhance skill development of graduates through its in-campus training initiative, across colleges in the country.
Commenting on the company’s performance, Mr Rajendra S Pawar, Chairman, NIIT Limited said, “A Growth of 33% infresh career enrolments for banking programs reflects the opportunities in the BFSI segment.”
NIIT reinforced its talent development initiatives in the International arena, by signing MoU with Vietnam’s 3rd largest, University of Da-Nang for its in-campus training initiative, NIIT-Inside.
During the quarter NIIT Imperia launched two new programs- Advanced Program in Strategy for Leaders and Advanced Program in Human Resource Management from IIM, Lucknow.
NIIT completed the intensive training programs for the second batch of Tax Return Preparers for Department of Income Tax in which 3,685 candidates got certified during this quarter.
 
Corporate Learning Solutions (CLS)recorded net revenues ofRs.79.2 Cr., up 14% YoY on a continuing business basis and added 3 new global customers during the quarter.
 
Mr Vijay K Thadani, Chief Executive Officer, NIIT Limited said “MTS (Managed Training Services) continued to gain acceptance during the quarter by growing at 18%. It now contributes 70% to our Corporate Learning Solutions business, which now has a revenue visibility of USD 134 Mn.”
 
School Learning Solutionsregisterednet revenue ofRs.49.8 Cr. during the quarter, up 35% YoY. 137 newschools with Nguru solutions were added in Q3 and Non Government schools revenue grew by 13% YoY.
NIIT MindChampions Academy (MCA) - a joint initiative by NIIT and World Chess Champion Viswanathan Anand to initiate young minds into the World of Chess in schools - crossed the milestone of impacting over 1.65 million children across 16,500 schools since inception, during the quarter.
Mr P Rajendran, Chief Operating Officer, NIIT Limited said,“The success of NIIT MindChampions’ Academy (MCA) is a reflection of growing acknowledgement of Chess as a powerful tool to develop young minds. We continue to extend MCA as part of our innovative offerings for schools. ”
NIIT’s vocational skills training initiative - NIIT Yuva Jyoti, established in partnership with National Skill Development Corporation (NSDC) added new centres this quarter, taking the total number of centres to 26 with over 3,500 enrolments since commencement.
Awards and acknowledgements during Q3:
·        Received the Brandon Hall Excellence in Learning 2012 Silver Award in the Best in Competencies and Skill Development category jointly with Shell for Shell Standard Primavera Education.
·        Awarded the silver in Chief Learning Officer Learning in Practice 2012 awards for the Excellence in E-Learning category for MetLife Virtual Induction Program.