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NIIT Limited Q2 (July - September 2014)
Consolidated Financials at a Glance (in Rs Cr)
Sep 30, 2013
Sep 30, 2014
New Delhi, October 17, 2014: NIIT Limited, leading Global Talent Development Corporation, today reported its results for the second quarter ending September 30, 2014. In this quarter, the company recorded Net Revenue of Rs. 260.4 Cr and PAT of Rs. 10.3 Cr.
The results were taken on record at the meeting of the Board of Directors here today.
During the quarter, NIIT initiated its Business Transformation plan, to usher the Company into the next phase of growth. Starting with rationalization of subsidiaries to streamline group operations, the company strengthened its management structure and announced a comprehensive succession plan. Mr. Rahul Keshav Patwardhan was appointed as the CEO Designate for NIIT Ltd. on October 6, 2014. He takes charge as Chief Executive Officer of NIIT Limited on April 1, 2015. Further, Mr. Shivan Bhargava joined the company as the Group President of the Skills and Careers Group during the quarter.
"The induction of Rahul Patwardhan (CEO Designate) and Shivan Bhargava (Group President, Skills & Careers Group) as part of the succession plan, provides the impetus and the capacity to drive our 'Growth through Transformation' agenda", said Mr Rajendra S Pawar, Chairman, NIIT Ltd.
Speaking on this occasion, Mr Rahul K Patwardhan, CEO Designate, NIIT Ltd said, "I am delighted to be back at NIIT. The Individual Learning and the Corporate Learning businesses are undergoing significant changes and NIIT is well positioned to reaffirm leadership by driving the Business Transformation program forward swiftly and with agility in execution". After having spent the first 20 years of his career with NIIT in multiple roles, Rahul returns to the company with 10 years of extensive Global experience in scaling managed services operations with Logica. With a proven track record and excellence in strategy, technology services management, training services & channel management, Rahul will spearhead the transformation of NIIT's global offerings and brand positioning in the Global Talent Development space.
During the quarter, Corporate Learning Solutions (CLS) recorded net revenues of Rs. 124.8 Cr, up 26% YoY. Overall Revenue visibility of CLS was recorded at USD 164.3 Mn, up 14% YoY. Managed Training Services (MTS) continued to grow, by contributing 88% to the total CLS revenue. Two new international clients were added for MTS during Q2.
Mr Vijay K Thadani, Chief Executive Officer, NIIT Limited said "Reaffirming customer confidence, Corporate Learning business recorded a 50% YoY increase in order intake at USD 20.7 Mn, registering a revenue growth of 35% YoY in Dollar terms."
Individual Learning Solutions recorded net revenue of Rs. 100.4 Cr in Q2, with 'Beyond-IT' enrolments growing 23% YoY. NIIT flagship centres recorded a 25% YoY growth in Rev GNIIT enrolments in Q2.
Catering to the growing demand for Information Security professionals, NIIT and EC-Council entered into a strategic partnership to empower Digital India with a pool of Cyber Guardians. Through this partnership, NIIT has introduced cutting-edge training programs in Ethical Hacking to create a manpower pool of trained InfoSec professionals in the country.
NIIT and Microsoft recently tied up to roll-out its significant 'Women in Tech' initiative across 5,000 Schools, Colleges, and Centres in 200 cities.
During the quarter, NIIT launched its '24th Bhavishya Jyoti Scholarship', to enhance employability of meritorious students by bridging the affordability gap and making them future-ready to meet the emerging needs of today's knowledge economy.
NIIT Institute of Finance, Banking & Insurance Training Ltd (IFBI) entered into a partnership with SBI General Insurance to introduce a unique "Earn and Learn" program where each student will get an opportunity to work under experienced mentors while pursuing the certification course. IFBI further signed up Kotak Mahindra Bank to launch a 12-month Post Graduate Diploma in Banking and Relationship Management.
The 5th National Banking Entrance Test for industry-linked career programs in banking and finance was conducted by IFBI in Q2 to offer successful candidates an opportunity to earn scholarships in the various PG Programs.
School Learning Solutions (SLS) recorded net revenue of Rs. 31.8 Cr during the quarter.
SLS engaged in extensive customer outreach during the quarter by launching its social media initiative and participating in connect platforms like – World Didac, wherein it displayed live Math Lab stations. It further launched cutting-edge ICT enabled solutions for the schools of tomorrow in cities like Namakkal, Tamil Nadu and Kurnool in Andhra Pradesh under the aegis of NIIT NGuru. These solutions which significantly improve the efficacy of the teaching and learning experience for school administration, teachers and students alike, aim to bring in a paradigm change in teaching and learning experience.
Mr P Rajendran, Executive Director, NIIT Limited said, "NIIT NGuru added 95 more schools in Q2 and completed the pilot of teacher training for CTET, with excellent results".
NIIT's vocational skills training initiative - NIIT Yuva Jyoti (NYJ), and Rotary International District 3010 entered into a partnership to enhance livelihood of youth in Delhi-NCR & surrounding regions through skilling and employability training.
Established in partnership with National Skill Development Corporation (NSDC), NYJ continued to gain momentum, expanding its reach to over 75 locations with more than 30,000 students trained, since commencement.
Awards & Acknowledgments:
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 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's Individual Learning business offerings include industry-endorsed Revolution GNIIT programs for students seeking careers in a range of industries and functions such as Banking, IT, Analytics, Digital Marketing and Ecommerce; Edgeineers for IT professionals; and a set of Post Graduate Programs for graduates from different streams. The company has introduced "India's first cloud campus" which offers students higher mobility as they can access classes, courseware, assessments and labs any-time, anywhere by connecting to NIIT's Cloud Campus network.
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 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 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.
NIIT's School Learning Solutions 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 Yuva Jyoti, a joint venture between NIIT and NSDC, offers vocational skills training programs to enhance employability of youth across India.
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®.
For media queries, please contact:
Vice President, Corporate Communications & Marketing, NIIT Limited
Ph: (Cell) +91 9910201085, (Dir) +91 124 4293041
Ph: (Cell) +91 9810597176
Investors may contact:
Kapil Saurabh, NIIT Limited, Ph (Cell) +91 9899117793, (Dir) +91 124 4293324
Visit us at: www.niit.com ; Follow us on: www.twitter.com/niitltd