Net Revenue up 15% YoY at Rs. 309.5 Cr
- Profit After Tax up 41% YoY at Rs 29.7 Cr
- Individual Learning Solutions revenue up 26% YoY; enrollments cross 1,50,000 mark
- Corporate order intake up 38% YoY at USD 39.4 million
- NIIT Uniqua , Centre for Process Excellence, launched
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NIIT Limited Consolidated Financials at a Glance (in Rs. Cr.) |
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|
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Qtr ended |
Qtr ended Sept 30, ‘08 |
Growth YoY |
|
Global System-wide Revenue |
398.6 |
468.0 |
17% |
|
Net Revenue |
270.2 |
309.5 |
15% |
|
EBITDA |
35.8 |
40.6 |
13% |
|
Profit After Tax |
21.1 |
29.7 |
41% |
New Delhi, October 21, 2008: For the second quarter ending September 30, 2008, NIIT Limited, the leading Global Talent Corporation has posted net revenues of Rs. 309.5 Cr, representing a 15% increase YoY. The company recorded an Operating Margin of 13% and Profit After Tax of Rs. 29.7 Cr, a growth of 41% YoY.
The company’s system-wide revenue stood at Rs. 468.0 Cr, up 17% YoY.
The results were taken on record at the meeting of the Board of Directors of NIIT Limited here today.
More than 4 times the size of its nearest competitor, NIIT strengthened its leadership position in the education and training sector which grew by 31% (source: Dataquest, September 2008). Past trends and the continuing need for skilled talent indicate that the sector will remain on a growth trajectory.
Commenting on the company’s performance and the demand for employability training amongst the youth, NIIT Chairman Mr. Rajendra S. Pawar said, “Young people should acquire new skills to win in today’s times.”
NIIT Uniqua, Centre for Process Excellence, which addresses the training needs of the BPO sector commenced operations with its first three centres in Delhi NCR and Bangalore.
According to Mr. Vijay K. Thadani, Chief Executive Officer, NIIT Limited, “New initiatives and products contributed to a robust growth of 17% in global system-wide revenue.”
Individual Learning Solutions recorded a 26% YoY growth in revenue.
Overall enrollment is up 22% led by the engineers segment which is up 25%.
During the quarter NIIT forged a strategic alliance with SAS Institute Inc., global leader in business analytics. NIIT now offers the first-of-its kind specialized curriculum in Business Intelligence.
NIIT extended its partnership with Sun Microsystems to offer training in Vietnam. This partnership will be expanded to other Asia Pacific markets including Indonesia, Thailand and Malaysia. NIIT expanded its reach in S.E. Asia by launching two new centres in Thailand.
Finance & Management Training (FMT) recorded 37% growth in net revenue.
During the quarter, FMT added five executive management programs. With the launch of a program to promote financial awareness among individual investors, FMT has been extended into a new market segment. In the BFSI sector, FMT forged an alliance with Reliance Retail to offer entry level training.
School Learning Solutions recorded robust growth of 32% in net revenue.
NIIT strengthened its offerings for schools with the launch of NIIT eGuru, the comprehensive solution for schools comprising Interactive Classroom, MathLab, IT Lab and Education Resource Planning Solution.
Mr. P. Rajendran, COO, NIIT said, “Designed around the guiding principles of the National Curriculum Framework (NCF), NIIT eGuru completed pilot implementation with excellent feedback about its learning effectiveness. This solution is ready for adoption by a large number of schools and promises to be the cornerstone of our strategy for success in schools.”
The Bihar Government flagged off the ICT@School project, through which NIIT will provide computer and computer aided education across 400 schools. The Andhra Pradesh school project which has commenced recently will cover over 2,000 schools.
Corporate Solutions Order Book at USD 93.35 million
With fresh order intake during the quarter at USD 39.4million, the pending order book as on September 30, 2008 stood at USD 93.35 million, 65% of which is executable over the next 12 months.
Other highlights of Q2 2008:
- NIIT has been adjudged a Business Superbrand for the second time.
- NIIT, USA was awarded the Gold for Excellence in E-Learning Award by Chief Learning Officer magazine, one of the industry’s highest honors.
- The NIIT Institute (TNI) set up a first-of-its-kind Community Learning Centre in Delhi to provide job relevant skills to youth in urban slums.
- India’s largest IT scholarship program, Bhavishya Jyoti Scholarship Program was conducted in 400 centres across India.
- NIIT also conducted its Annual Scholarship Program in Nigeria and Vietnam.
- NIIT Litmus successfully rolled out its first Test of English for International Communication (TOEIC).