- Net Revenues at Rs. 270.2 Cr; grow 33% YoY
- PAT at Rs. 21.1 Cr; up 31% YoY
- Individual Learning Solutions grew 31% YoY
- New businesses achieve operating break-even.
|
|
|
|
|
|
|
Qtr ended |
Qtr ended |
Growth |
|
Systemwide Revenue |
321.3 |
398.6 |
24% |
|
Net Revenue |
203.1 |
270.2 |
33% |
|
Operating Profit |
23.8 |
35.8 |
50% |
|
Profit After Tax |
16.1 |
21.1 |
31% |
New Delhi, October 25, 2007: For the second quarter ending September 30, 2007, NIIT, Asia’s No.1 trainer and leading Global Talent Development Corporation, has posted net revenues of Rs. 270.2 crore, representing a 33% increase YoY. Company’s Systemwide revenues stood at Rs. 398.6 crore, up 24% YoY.
The company posted an Operating Profit (EBITDA) of Rs. 35.8 Cr, representing a 50% growth as compared to Rs. 23.8 Cr in the corresponding quarter last year.
NIIT Limited and its subsidiaries recorded a consolidated profit after tax of Rs. 21.1 crore, a growth of 31% over the same period last year.
Commenting on the company’s performance, NIIT Chairman Mr. Rajendra S. Pawar said, “NIIT’s 33% revenue growth is a result of our Global Talent Development initiative across multiple sectors—IT, Banking, Executive Management Education.”
The results were taken on record at the meeting of the Board of Directors of NIIT Limited here today.
The company’s Individual Learning Solutions recorded a 31% growth in net revenue in Q2, over the same period last year, with Career segment revenues growing at 37%.
Continuing with the focus of building talent for the high growth IT infrastructure management space, NIIT extended the new Network & Infrastructure Management curriculum to over 176 centres across the country.
NIIT enhanced its global training network by entering into strategic alliances in China, Malaysia and Vietnam. Through its alliance with the ChongQing Information Industry Bureau (CQIIB), NIIT will offer its programs in Universities and Colleges in ChongQing. NIIT partnered with the Ministry of Human Resources, Malaysia to implement its ‘NIIT Inside’ model.
According to Mr. Vijay K. Thadani, Chief Executive Officer, NIIT Limited, “NIIT’s operating profit grew by 50% YoY, led by strong enrollment growth and improved capacity utilization.”
New Businesses
NIIT’s new businesses—NIIT Imperia and Institute of Finance, Banking & Insurance (IFBI)—extended reach and portfolio to harness talent for sectors beyond IT. During the quarter, NIIT added four new centres in Tier II cities. With this expansion, the new businesses have been extended to 14 centres across 11 cities.
NIIT Imperia partnered with Institute of Management Technology (IMT), Ghaziabad to offer long and short duration programs in management.
IFBI partnered with HDFC Bank for the Banking program and with ICICI Securities for the Financial Planning program. IFBI has commenced insurance training in partnership with ICICI Prudential.
Closing Order Book at Rs. 541 Cr
Fresh Systemwide order intake during the quarter was Rs. 435 Cr. The pending order book as on September 30, 2007 stood at Rs. 541 Cr.
Mr. P. Rajendran, COO, NIIT said, “Successful integration of ElementK, USA, resulted in 34% revenue growth in corporate learning solutions.”
Corporate Learning Solutions added 10 customers across USA, Europe and India in this period.
Other highlights of Q2 2007:
- NIIT’s innovative solution based on its unique ‘Critical Mistake Analysis (CMA)’ methodology has enabled, US based Allstate Insurance Company to receive the coveted ‘Innovation Award’ instituted by Society of Insurance, Trainers and Educators (SITE).
- The NIIT Education Society set up first-of-its-kind Model District Learning Center at Chhindwara. NIIT has also set up several Minimally Invasive Education (MIE) Playground Learning Centers (PLCs) in different villages of Chhindwara to promote computer education among school children in the district.
- NIIT has bagged the ‘Best Learning Solutions Partner Award’ and ‘Best School Solutions Partner Award’ from global technology giant, Microsoft.
- NIIT MindChampion Viswanathan Anand was recently crowned the World Chess Champion in Mexico. With this win, Viswanathan Anand is the World No. 1 and World Champion.