Consolidated Financials for Quarter ended June 30, 2019
June 30, 2019
June 30, 2018
New Delhi, August 10, 2019: NIIT Limited (NSE: NIITLTD), a global leader in skills and talent development, today reported its results for the first quarter ending June 30, 2019. During the quarter, the company recorded a Net Revenue of Rs. 210.3 Cr. EBITDA was recorded at Rs. 22 Cr, up 16% YoY at an Operating Margin of 10.4%, up 159 bps YoY. Profit After Tax recorded at Rs. 1090.4 Cr, which includes one-time income on account of divestment of NIIT Limited's shareholding in NIIT Technologies Limited
The results were taken on record at the meeting of the Board of Directors held today.
Speaking on the occasion, Mr. Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, "The increase in revenue visibility for Corporate Learning Group and the growth in Go forward business in Skills & Careers, vindicate the company's strategy and reaffirm the confidence of customers, in our ability to add value."
The Board took note of the Closing of the transaction for sale of NIIT's stake in NIIT Technologies Limited. The transaction was closed on May 17, 2019 after necessary approvals. NIIT Ltd. received gross proceeds of Rs. 2020.4 Cr. in cash on Closing.
On May 25, 2019, the Board had proposed a Dividend of Rs. 5 per share and constituted a committee to make recommendations for utilization of proceeds for rewarding shareholders, subject to statutory limits and necessary approvals, and after providing for transaction related costs, taxes, retirement of debt, growth capital and a prudent Indemnity reserve.
Based on the recommendation of the committee, the Board has approved a proposal to buyback up to 2,68,00,000 (Two crore sixty eight lakh) Equity Shares from the shareholders of the Company at Rs. 125 per share, representing approximately 16% of the total paid up equity share capital for an aggregate amount not exceeding Rs. 335,00,00,000 (Three hundred and thirty five crore).
Corporate Learning Group (CLG) recorded net revenue of Rs. 152.4 Cr. CLG signed 5 new Managed Training Services (MTS) contracts in Q1, taking MTS customers tally to 49. CLG recorded revenue visibility of US$ 264 Mn, up 18% YoY.
During the quarter NIIT was selected as a 2019 Top 20 Gamification Company for the sixth consecutive year by TrainingIndustry.com. Training Industry continuously monitors the training marketplace looking for the best providers of gamification services/ technologies in support of corporate learning and development.
Skills & Careers Group (SNC) recorded net revenue of Rs. 51.7 Cr during Q1. The SNC Go forward business grew by 15% YoY. The India business grew for the second successive quarter driven by growth in TPaaS (Talent Pipeline as a Service) and StackRoute.
The Skills & Careers Group announced the #FutureReadyTalent initiative to empower aspiring professionals through future ready programs. As part of this initiative, NIIT is conducting seminars in 15 cities across India, wherein successful leaders from diverse fields share their experiences with the youth, making them aware about the importance of new-age future ready careers. In addition, a focused industry round table discussion was also organized at the India Habitat Centre in Delhi, with thought leaders and CXOs under this initiative.
During the Quarter NIIT bagged the ASSOCHAM Education Excellence Awards 2019 as the 'Best Innovative Brand' in the Education sector. NIIT has received the award for company's continuous effort to offer new-age Career Programs to address the changing workforce requirements of the industry.
Commenting on the Quarter results, Sapnesh Lalla, CEO, NIIT Ltd. said, "NIIT's business lines continued to show traction during Q1. While CLG acquired 5 new MTS customers during the quarter, SNC's Go forward Businesses grew at 15% YoY. StackRoute and TPaaS (Talent Pipeline as a Service) continue to demonstrate strong growth momentum."
MindChampion Learning Systems Limited (MLSL) registered net revenue of Rs. 6.2 Cr.
Awards & Acknowledgements:
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 in over 30 countries, 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 Business 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 Business (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. NIIT has incubated, StackRoute, as a digital transformation partner for corporates to build multi-skilled full stack developers at scale. As NIIT's wholly owned subsidiary for its K-12 school learning initiative - MindChampion Learning Systems Limited (MLSL), provides curriculum based holistic range of education learning solutions to private schools in India under the nGuru brand. The product portfolio includes technology-driven classroom solutions, labs, assessment solutions, career guidance and counselling programs, and courseware solutions for IT, Maths, Science and English.
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 twelve 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.
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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