Consolidated Financials for Quarter ended September 30, 2017
September 30, 2016
September 30, 2017
*Note: The accounts have been prepared based on Ind AS, as on 30th September, 2017. To make it comparable on a like-to-like basis, the accounts as on 30th September, 2016 have been converted into Ind AS.
New Delhi, October 25, 2017: NIIT Limited (NSE: NIITLTD), a global leader in skills and talent development, today reported its results for the second quarter ending September 30, 2017. During the quarter, the company recorded a PAT of Rs. 12.7 Cr, up 18% YoY and a Net Revenue of Rs. 208.4 Cr. EBITDA was at Rs. 17.8 Cr, reflecting an EBITDA Margin of 9%. Net debt was recorded at Rs. 45.9 Cr.
The results were taken on record at the meeting of the Board of Directors here today.
Speaking on the company's performance during the quarter, Mr. Sapnesh Lalla, Chief Executive Officer, NIIT Limited said, "We have witnessed a robust growth of 18% YoY in PAT this quarter driven by sustained growth in NIIT's Corporate Learning business and prudent cost control in our Skills and Careers Business."
Corporate Learning Group (CLG) recorded net revenue of Rs. 126.3 Cr up 14% YoY in constant currency terms, on an EBITDA margin of 16%. It added 3 new MTS customers in Q2 and expanded business with 2 existing customers. The total number of MTS customers now stands at 38. Managed Training Services (MTS) portfolio contributed 93% to Q2 CLG revenue and the Order intake was up 94% YoY.
NIIT entered into a strategic relationship with Cornerstone OnDemand (NASDAQ: CSOD), a global leader in cloud-based learning and human capital management software, to collaborate in the areas of implementation, business consulting, technical and content consulting, and outsourced administration.
During the quarter, NIIT also announced that it has formed a strategic relationship with EdCast, the award-winning, AI-powered Knowledge Cloud provider with customers that include GE, HPE, Dell EMC, and Accenture. The two companies will collaborate in the areas of corporate training and consulting, learning management and administration, and content management and creation for businesses around the world.
Skills & Careers Group (SNC) recorded net revenue of Rs. 71.4 Cr during Q2, with an EBITDA margin of 3%.
Speaking on the occasion, Mr. Prakash Menon, President, Global Retail Business (GRB), said, "During this quarter, our digiNxt career programs received an encouraging response. With a focus on strengthening our operations, we made senior level appointments to further drive digital transformation initiatives across the business."
During the quarter, Training.com in association with IIM Calcutta, announced the second batch of the Executive Program in Digital and Social Media Marketing Strategy. Since the launch of the platform in October 2016, Training.com has generated close to 2 million visitors. Training.com has built a portfolio of over 70 advanced courses including marquee programs in Digital Marketing, Data Science and Applied Finance from premium institutions.
Commenting on Training.com, Mr. Rajan Venkataraman, Chief Digital Officer, NIIT Ltd. said, "Since our inception, NIIT has been innovatively using technology to redefine the education and the training space. Our advanced programs under Training.com have been well received by the students and the industry alike."
MindChampion Learning Systems Limited (MLSL) registered net revenue of Rs. 9.3 Cr during the quarter.
Mr. Gavin Dabreo, CEO of MLSL said, "I am delighted to report that MLSL has bagged prestigious awards for innovation in school education this quarter. Our key differentiator is that all of our content for the child is available on a mobile app, as also online for each student."
MLSL has been conferred with three prestigious awards at the '3rd South Asia Education Summit 2017,' organized by ICT post. It bagged the 'Interactive Solution Provider' award for NIIT Nguru - IT Wizard & MathPlus; 'Testing and Assessment Tool Provider' award for state-of-the-art NIIT Nguru - Practice Plus and 'Teacher Training (K-12)' award for 'The CTET Advantage Program'.
NIIT is a leading Skills and Talent Development Corporation that is building a manpower pool for global industry requirements. The company, which was set up in 1981 to help the nascent IT industry overcome its human resource challenges, today ranks among the world's leading training companies owing to its vast and comprehensive array of talent development programs. With a footprint across 40 nations, NIIT offers training and development solutions to Individuals, Enterprises and Institutions. NIIT has three main lines of business across the globe – Corporate Learning Group, Skills & Careers Group and MindChampion Learning Systems Limited.
NIIT's Corporate Learning Group (CLG) offers Managed Training Services (MTS) to market-leading companies in North America, Europe, Asia, and Oceania. The Skills & Careers Group (SNC) delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in areas including Digital Transformation, Banking, Finance & Insurance, Soft Skills, Business Process Excellence, Retail Sales Enablement, Management Education, Multi-Sectoral Vocational Skills, Digital Media Marketing, and new-age IT. As NIIT's wholly owned subsidiary for its K-12 school learning initiative - MindChampion Learning Systems Limited (MLSL), provides futuristic NIIT nGuru range of learning solutions for schools comprising, interactive Classrooms with digital content, technology-driven Math Lab, IT Wizard programs and Quick School - an Education Resource Planning software. The Training.com learning platform is an NIIT initiative for advanced career programs, which are delivered live by industry experts in an immersive and interactive online mode, combining instructor-led classrooms with the convenience of accessing the training sessions from anywhere.
As the Most Trusted Training Brand in India for 5th year in a row (Brand Trust Report, 2017), NIIT's learning and talent development solutions, continue to receive widespread recognition globally. NIIT has been named among the Top 20 Training Outsourcing Companies for the past ten consecutive years by Training Industry, Inc. USA. 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 has also been featured as the 'Most Respected Education Company'- 2016 by leading financial magazine, Business World. NIIT.tv – a disruptive innovation by NIIT, won the prestigious award for 'Educational Technology, at the Indo-American Education Summit 2016.
For Media queries please contact
Senior Vice President, Corporate Communications & Marketing, NIIT Limited
Ph: (Cell) +91 9910201085, (Dir) +91 124 4293041
Corporate Communications & Marketing, NIIT Limited
Ph: (Cell) +91 9999601154, (Dir) +91 124 4293042
Investors may contact:
Kapil Saurabh, NIIT Limited,
Ph (Cell) +91 9899117793, (Dir) +91 124 4293324
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