Press Release

• Global System-wide  Revenue up 19% YoY  at  Rs 555 Cr
• EBITDA up 22% YoY at  Rs 49 Cr
• School Learning Solutions Net Revenue up 175% YoY 
• Board approves raising of Rs 230 Cr through equity and

  convertible warrants

 

New Delhi, October 26, 2009: For the quarter ending September 30, 2009, NIIT Limited, the leading Global Talent Corporation recorded global system-wide revenue of Rs 555.6 Cr, an increase of 19% YoY and net revenue of Rs. 359.8 Cr, an increase of 16% YoY. The company recorded an EBITDA of Rs 49.6 Cr up 22% YoY.  PAT of Rs 26.2 Cr was impacted by higher depreciation in company operations and forex volatility in share of associates’ profits.
The results were taken on record at the meeting of the Board of Directors of NIIT Limited here today.

According to Mr. Rajendra S Pawar, Chairman, NIIT Limited, “A healthy revenue growth of 16% was achieved through aggressive actions in India and other emerging economies while US/Europe faced challenges” 

Individual Learning Solutions recorded 17% YoY growth in Global System-wide revenue, YoY.   In this quarter, India enrolments increased by 8% YoY driven by the introduction of full range of programs in the Infrastructure Management Services (IMS) domain and ERP training for Small and Medium Businesses.  Enrolments in the IMS courses saw a 43% growth during the quarter. Placements continued to be robust taking the growth to 45% year todate. 

In international markets, NIIT further strengthened its position with the announcement of its university tie-up in Nigeria, successful commencement of training programs in South Africa,  launch of additional PPP centres in China and the scholarship drive in Nigeria and Vietnam.
In the 10th NIIT Nigeria Scholarship about 200,000 students registered for the test,  an increase of  100% over  last year. 

Last week, NIIT and IBM entered into an alliance to offer training programs on IBM’s  Career Education in IBM Software framework. Starting with curriculum for the Rational suite of software testing and quality assurance, the partnership will be extended in successive phases across other IBM technologies.
NIIT received the Dataquest Top IT Training Company Award 2009 for the 17th year in succession.  NIIT, USA, has been honored by TechAmerica Southeast with a 2009 Spirit of Endeavor award for Leadership in Technology Education.

Commenting on the company’s Q2 performance, Mr Vijay K. Thadani, Chief Executive Officer, NIIT Limited, said “Market share gain in focused segments, high execution efficiency and sustained cost management actions led to 22% YoY EBITDA growth in the quarter”

In Corporate Learning Solutions, NIIT recorded a strong performance with 16% growth in e-learning products.
NIIT, USA, has been awarded the Gold for Excellence in E-Learning in the 2009 Learning in Practice Awards from Chief Learning Officer Magazine. 

Corporate Learning Solutions recorded strong growth in EBITDA margin, an increase of 492 basis points YoY reflecting the benefit of cost containment actions.
During the quarter, NIIT received the prestigious CIO 100 Award 2009, presented by CIO Magazine, for the pioneering work done on revamping its website: www.niit.com  and the Polycom Intelligent Enterprise Award at the Technology Senate 2009 for its Synchronous Learning Technology.

School Learning Solutions recorded 76% growth in EBITDA on a higher revenue base.
Mr. P. Rajendran, COO, NIIT said, “Successful implementation of our learning solutions in 3500 schools in the first half of this year - the highest ever, demonstrated our capability in execution excellence of large projects. This led to   significant revenue growth of 175% in School Learning Solutions in this quarter”
NIIT swept the Digital Learning category in eIndia 2009 awards, winning:   ICT Enabled School of the Year Award (The Scindia School), Civil society / Development agency Initiative of the year (Hole in the Wall Education), Government / Policy Initiative of the year (Implementation of Shared Computing in Govt. schools, Andhra Pradesh).
Board approves raising of Rs 230 Cr 
The Board of NIIT approved raising of Rs 230 Cr by way of Qualified Institutional Placements (QIP) of equity and/or other instruments convertible into equity of up to Rs 200 Cr (including premium) and Convertible Warrants to promoters of up to Rs 30 Cr (including premium).
The funds raised would strengthen the balance sheet of the company, and would augment long term resources for growth requirements of its current and new businesses and of the emerging opportunities in the Education and Training sector.

Board grants options under ESOP
The Board approved the grant of stock options to over 500 managers of the company, under the existing Employee Stock Option Plan. 

 

NIIT Limited, leading Global Talent Development Corporation and Asia’s largest IT trainer, offers learning and knowledge solutions to over 5 million students across 40 countries.
Leading IT magazine Dataquest has conferred upon NIIT, the ‘Top IT Training Company’ award successively for the past 17 years, since the inception of this category. Rated among India’s Business Superbrands 2008, NIIT’s Individual Learning Business offerings include industry-endorsed programs for students seeking careers in IT - GNIIT, Edgeineers and Global Net Plus for IT professionals.
 NIIT has provided computer-based learning to over 12,000 government and private schools. The futuristic NIIT eGURU range for schools is a holistic education package that comprises of Interactive Classrooms (an embedded Teaching Learning Material, that uses elements of interactivity, automation and web links library); Math lab (technology tools that enable school students to learn and explore mathematical concepts); IT Wizard (equips the students with core computer knowledge and IT skills); and Quick School (an Education Resource Planning solution for school management).
For working professionals, NIIT Imperia, Centre for Advanced Learning, offers Executive Management Education Programs in association with Indian Institutes of Management (IIMs) at Ahmedabad, Indore, Kolkata, Lucknow, IMT Ghaziabad and IIFT Delhi.
NIIT Institute of Finance Banking & Insurance (IFBI), formed by NIIT with equity participation from ICICI Bank, offers programs for individuals and corporates in Banking, Financial Services and Insurance.
NIIT Uniqua, Centre for Process Excellence, addresses the increasing demand for skilled workers in the business and technology services industry by providing training programs in relevant areas. This is a part of NIIT Institute of Process Excellence, a NIIT-Genpact venture.
NIIT’s Corporate Learning Solutions, offers integrated learning solutions (including 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 delivers a tailored combination of catalog learning products, technology and services through Element K offerings. These include: vLab®: hands-on labs, instructor-led courseware, comprehensive e-reference libraries, technical journals, and KnowledgeHub™: hosted learning management platform. This makes NIIT the first and the best choice for comprehensive learning solutions, worldwide.
 
For media queries, please contact:
Prateek Chatterjee, NIIT Ltd, Ph: (Cell) +91 9910201085, (Dir) +91 124 4293041
Email: prateek.chatterjee@niit.com 
For investor queries, please contact: Kapil Saurabh, NIIT Ltd, Ph: (Dir) +91 124 4293324
Email: investor.relations@niit.com or Visit www.niit.com
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