NIIT Limited Q1 (April - June 2014)
Consolidated Financials at a Glance (in Rs Cr)
June 30, 2013
June 30, 2014
New Delhi, July 23, 2014: NIIT Limited, leading Global Talent Development Corporation, today reported its results for the first quarter ended June 30, 2014. In this quarter, the company recorded Net Revenue of Rs 225.3 Cr with a PAT of Rs 0.6 Cr. EBITDA was recorded at Rs 12.8 Cr, up 23% YoY, and the Operating margin stood at 6% up 101 bps YoY.
The results were taken on record at the meeting of the Board of Directors here today.
Corporate Learning Solutions (CLS) recorded net revenue of Rs 111.3 Cr up 32% YoY during the quarter, backed by a strong growth in its MTS offerings, which now contributes 86% towards CLS revenues. The overall CLS revenue visibility stood at USD 180.1 Mn, up 25% YoY.
Mr Vijay K Thadani, Chief Executive Officer, NIIT Limited said, "NIIT's customized training solutions for corporates - MTS (Managed Training Services) - continued to gain strong acceptance by the industry, thereby resulting in a robust growth of 32 % YoY in our corporate training business."
Career Building Solutions (CBS) recorded net revenue of Rs. 72.6 Cr during the Q1. Over 6,600 students were placed into jobs in Q1 alone.
'ReVOLUTION GNIIT', launched during the quarter, drove momentum for the company's Cloud CampusTM offerings, registering around 2000 enrolments in Q1. This pioneering Cloud CampusTM initiative has now expanded across 217 centres with cumulative enrolments of over 73,500 students.
Commenting on the company's performance, Mr Rajendra S Pawar, Chairman NIIT Limited said, "With the economy showing a promise of growth and the IT companies putting up a good performance, the market response for our new-age courses like ReVOLUTION GNIIT is expected to step-up further."
NIIT forayed into the area of training teachers for the Central Teacher Eligibility Test (CTET), during the quarter. To this effect, the Company launched The CTET Advantage Program to support Pre-Service/ In-Service teachers to prepare for the forthcoming exams, thereby leading to enhanced employability.
The 15th IT Scholarship exams conducted by NIIT in Nigeria, drew participation from over 18,000 applicants, thereby giving meritorious students an opportunity to build successful careers in the IT sector. Further, NIIT consolidated its presence in Africa by signing up 3 new centres in Ivory Coast, Liberia & Sierra Leone.
During the quarter, NIIT further strengthened its 'Beyond-IT' portfolio of offerings, which registered a 31% YoY growth in enrolments.
School Learning Solutions (SLS) registered net revenue of Rs 39.4 Cr during the quarter, adding 129 Private Schools to its portfolio.
During the Quarter SLS trained 3,572 teachers and school principals on CCE (Continuous and Comprehensive Evaluation) and leadership development, as an empanelled member of CBSE (Central Board of Secondary Education). SLS also unveiled IT Wizard Plus in the states of Uttar Pradesh and Delhi NCR along with GM & NIIT MindChampion Viswanathan Anand.
Mr P Rajendran, Chief Operating Officer, NIIT Limited said, "NIIT continues to be a favoured partner in the school learning space, with the recent launch of pioneering products and solutions like IT Wizard Plus and Maths Lab Plus."
NIIT's vocational skills training initiative - NIIT Yuva Jyoti, established in partnership with National Skill Development Corporation (NSDC) continued to gain momentum, expanding its reach to over 70 locations with more than 25,000 students trained, since commencement.
Established in 1981, NIIT Limited, a leading Global Talent Development Corporation, offers learning and knowledge solutions across 40 countries. Leading IT journal Dataquest has conferred upon NIIT the 'Top Training Company' award successively for the past 20 years, since the inception of this category.
NIIT's training solutions in IT, Banking, Finance and Insurance, Knowledge Process Outsourcing (KPO), Business Process Management (BPM), Executive Management Education, Vocational Skills, School Learning Solutions and Communication and Professional Life Skills has impacted over 35 million learners since inception.
NIIT's Individual Learning Business offerings include industry-endorsed programs for students seeking careers in IT – GNIIT and Edgeineers for IT professionals. The company has introduced "India's first cloud campus", through its new-age GNIIT program. This offers students a higher mobility as they can access courseware using Netbooks to connect seamlessly to NIIT's Cloud Campus network.
NIIT's Corporate Learning Solutions offers Managed Training Services including integrated learning solutions (strategic consulting, learning design, content development, delivery, technology, assessment and learning management) to Fortune 500 companies, Universities, Technology companies, Training corporations and Publishing houses. NIIT Yuva Jyoti, a joint venture between NIIT and NSDC, offers vocational skills training programs to enhance employability of youth across India.
NIIT's School Learning Solutions division has provided computer-based learning to over 15, 000 Government and private schools. The futuristic NIIT nGuru range of learning solutions for schools comprises Interactive Classrooms, Math Lab, IT Wizard programs and Quick School (Education Resource Planning software).
NIIT Imperia - Centre for Advanced Learning, offers Executive Learning Programs in association with leading Business schools in India, KPMG, Google India and Internet and Mobile Association of India (IAMAI), using the synchronous learning platform.
NIIT Institute of Finance Banking & Insurance (NIIT IFBI), formed by NIIT with equity participation from ICICI Bank, offers programs for individuals and corporates in Banking, Financial Services and Insurance. NIIT Institute of Process Excellence Limited, a NIIT-GENPACT venture (NIIT Uniqua), offers complete training outsourcing services to the Business Process, Knowledge and Technology Services industry to create business models that enhance productivity and lower costs.
In recognition of its people centric policies, which foster an environment of growth and career development, NIIT has been ranked as the 4th Best company to work for in India 2013-14, by Great Place to Work Institute®.
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