Q3 (Oct - Dec 2014)
Consolidated Financials at a Glance
(in Rs. Cr)
Dec 31, 2013
Dec 31, 2014
New Delhi, January 16, 2015:
NIIT Limited, a
global leader in Skills and Talent Development, today reported its results for the third quarter ending December 31, 2014. In this quarter, the company recorded Net Revenue of Rs. 248.2 Cr, up 6% YoY with a PAT of Rs 1.8 Cr. EBITDA for the quarter was recorded at Rs. 5.7 Cr.
The results were taken on record at the meeting of the Board of Directors here today.
Solutions (CLS) which offers Managed Training Services (MTS) to market-leading companies in North America, Europe, Asia, and Oceania, recorded net revenues of Rs. 136 Cr during the quarter, up 28% over same period of the previous year. It added three new contracts and one new customer in Q3, taking the Pending Order book for CLS to $ 64.5 Mn.
Mr Vijay K Thadani, Chief Executive Officer, NIIT Limited said,
"A strong focus on improving liquidity and conservation of capital, contributed towards strengthening of the balance sheet during the quarter".
Speaking on the occasion,
Mr. Rahul K Patwardhan, CEO Designate, NIIT Limited said,
"The 6% YoY revenue growth during the quarter, was driven by a robust 28% YoY growth in Corporate Learning Solutions."
"Our Business Transformation Program is progressing on schedule to streamline and realign the organisation towards business growth and improved profitability",
added Mr. Patwardhan.
Individual Learning Solutions (ILS) recorded net revenue of Rs. 76.9 Cr during the quarter.
During the quarter, NIIT continued to roll-out industry-aligned programs in partnership with leading organisations like – eBay, IEEE & Microsoft.
With the view to increase employability, bridge the skills divide and create opportunities for entrepreneurs to tap into the growing ecommerce market, NIIT announced an industry first ecommerce certification programme in collaboration with eBay India, in this quarter.
NIIT and IEEE (Institute of Electrical and Electronics Engineers) entered into a global alliance to provide training based on the Software Engineering Body of Knowledge (SWEBOK) to create certified engineers to meet the industry's requirement for job-ready talent. During the quarter, NIIT also tied up with Microsoft to roll-out its significant 'Women in Tech' initiative across 5,000 Schools, Colleges, and Centres in 200 cities.
Further strengthening its China operations, NIIT recently entered into a Memorandum of Understanding (MoU) with Guian New Area, the capital city of Guizhou province, China, to offer programs in IT with special focus on Big Data.
School Learning Solutions (SLS) registered net revenue of Rs. 31.4 Cr during the quarter.
MathLab Impact Study conducted by one of the top four research agencies across 11 States in India, which revealed that students using NIIT MathLab performed distinctly better in Math than students not using MathLab. NIIT extended its presence in Hyderabad, Bangalore and Tiruchengode with the launch of the cutting-edge 'MathLab Plus' in these cities.
During the quarter, NIIT showcased its state-of-the-art technology-based School Learning Solutions at the 28th Guwahati Book Fair and Literary Festival, 2014 held in Assam.
Mr P Rajendran, Executive Director, NIIT Limited said,
"The MathLab Impact Study clearly shows a definitive impact of MathLab on Math performance across schools in India. We are confident that this finding will encourage more schools to adopt MathLab and other ICT enabled solutions offered by NIIT."
NIIT Yuva Jyoti, established in partnership with National Skill Development Corporation (NSDC), continued to gain momentum, expanding its reach to over 75 locations with more than 34,500 students trained, since commencement.
Other highlights & awards:
Established in 1981, NIIT Limited, a global leader in Skills and Talent Development, offers multi-disciplinary learning management and training delivery solutions to corporations, institutions, and individuals in over 40 countries.
NIIT has three main lines of business across the globe- Corporate Learning Group, Skills and Careers Group, and School Learning Group.
NIIT's Corporate Learning Group (CLG) offers Managed Training Services (MTS) to market-leading companies in North America, Europe, Asia, and Oceania. The comprehensive suite of Managed Training Services includes custom Curriculum Design and Content Development, Learning Administration, Learning Delivery, Strategic Sourcing, Learning Technology, and Advisory Services. With a team of some of the world's finest learning professionals, NIIT is dedicated to helping customers increase the business value of learning and development (L&D). Built on the sound principles of 'Running Training like a Business', NIIT's Managed Training Services and best-in-class training processes enable customers to align business goals with L&D, reduce costs, realise measurable value, benefit from rock-solid operations, and increase business impact.
NIIT's Skills and Careers Group (SCG) delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in areas including Banking, Finance & Insurance, Soft Skills, Business Process Excellence, Retail Sales Enablement, Management Education, Multi-Sectoral Vocational Skills, Digital Media Marketing, and new-age IT. These programs are delivered through a hybrid combination of the 'Cloud Campus' online platform, satellite-based 'Synchronous Learning Technology' and a physical network of hundreds of learning centers in India, China, and select markets in Asia & Africa. The flagship multi-disciplinary course offerings include the industry-endorsed RevGNIIT program and a set of Post Graduate Programs for students from different streams, apart from a wide range of specialist short duration programs.
To further strengthen its SCG portfolio in India, NIIT has tied up with industry majors like ICICI Bank for NIIT Institute of Finance Banking & Insurance, IFBI; leading business schools in India for NIIT Imperia; Genpact for NIIT Uniqua; and a joint venture with NSDC for NIIT Yuva Jyoti. Besides this, for the China market, NIIT has tied up with governments and software parks in Chongqing, Wuxi, Suzhou, Changzhou, Zhangjiagang, Haikou and Dafeng, for state-of-the-art public-private partnership centres.
NIIT's School Learning Group (SLG) provides technology based learning to over 15,000 government and private schools in India, Bhutan, South Africa and the Middle East. The futuristic NIIT nGuru range of learning solutions for schools comprises Interactive Classrooms with digital content, technology-driven Math Lab, IT Wizard programs and Quick School - an Education Resource Planning software.
NIIT's learning and talent development solutions, have received widespread recognition globally. The company has been named among the Top 20 Training Outsourcing Companies for the past seven consecutive years by Training Industry, Inc. Further, leading Indian ICT journal Dataquest has conferred upon NIIT the 'Top Training Company' award successively for the past 20 years, since the inception of this category. NIIT Yuva Jyoti Ltd was recognized as the Best Vocational Education and Skill Development initiative at the World Education Summit, 2014.
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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