Press Release

·         EBITDA  grows 53% to Rs 28.6 Cr

·         School Learning Solutions revenue up  43% YoY

·         Order Intake of Rs 107.5 Cr in School Learning Solutions

·         USD 31 Mn Order Intake for Corporate Solutions

New Delhi, July 29, 2009: For the first quarter ending June 30, 2009, NIIT Limited, the leading Global Talent Corporation recorded net revenue of Rs 261 Cr  and  EBITDA of  Rs 28.6 Cr , an improvement of 373 basis points, YoY. PAT at Rs 9.9 Cr was impacted by forex volatility, both,   in operations and share of associates’ profits.  

The results were taken on record at the meeting of the Board of Directors of NIIT Limited here today.

Growth in market share and revenue  in School Learning Solutions, Corporate Learning  Products and  Individual Learning Solutions, China  helped to offset the impact  of  the  environment in the US and Europe market. 

Commenting on the company’s Q1 performance, Mr Vijay K. Thadani, Chief Executive Officer, NIIT Limited, said “Effective management of costs resulted in 53% growth in EBITDA, in a challenging environment”

Improved product mix, better management of   headcount and overhead costs resulted in higher operating efficiency and improved operating margin.

According to Mr Rajendra S Pawar, Chairman, NIIT Limited, “Forex volatility adversely affected profit from operations as well as the share of associates’ profits”.

Individual Learning Solutions    

NIIT launched the GNIIT (IMS) program developed in association with technology partners- Cisco, CompTIA, EMC, Microsoft, and Sun with the aim of meeting the industry’s growing need for certified professionals.  The curriculum combines the strengths of technology partners to develop specialized skills in domains like Networking, Storage Management, Server and Datacentre management, Desktop and Application Support and Emerging Specializations like Security and Virtualization.  With this launch, NIIT increased its share and IMS enrolments grew by 92% YoY.  In China, NIIT enrolments grew by 63% due to introduction of new technology products and expanding centres under Public Private Partnership model

In this quarter, placements were up 87% due to continued robust demand for industry-ready trained IT professionals.  

School Learning Solutions reported strong growth in revenue driven by demand from Government and Private schools. During the quarter, NIIT received mandate to provide computer aided education across 1,870 Government schools in Gujarat.  

According to Mr P Rajendran, Chief Operating Officer, NIIT Limited, ‘The School Learning Solutions showed healthy growth of 43% with 1,984 new schools added in the quarter”

SLS recorded 89% growth in EBITDA due to increased revenue and operating leverage.   Order Intake for the quarter stands at Rs 107.5 Cr leading to an order book of Rs 397.1 Cr

Corporate Learning Solutions recorded EBITDA improvement of 739 basis points.   In Corporate E-learning products, NIIT improved its market share with revenue growing 23% YoY.  Fresh Order Intake was USD 31Mn leading to pending Order Book of USD 81Mn of which 63% is executable in the next 12 months.   

New Business - Finance & Management Training and NIIT Uniqua

With the addition of 3 new executive management programs in Supply Chain Management, Advanced program in Competitive Strategy   and HR Management, NIIT Imperia extended its offering to 25 Programs. NIIT Imperia tied up with Financial Management Service Foundation, Delhi.  

For the BFSI sector, IFBI  enhanced its offering by launching a new set of programs under the ‘BFS series’ and also added Dhanalakshmi Bank as a partner.

Other Highlights of Q1:

·         NIIT  was  recognized among Bersin & Associates Learning leaders

·         NIIT received the ICT Gold Medal – Vietnam for the 4th year in a row.

·         NIIT  received the   Best Learning  Partner  award from CISCO and Microsoft

·         IFBI  was recognized as the Best Training School by  The Week – Nielsen survey

·         NIIT received the Best Green IT Project award by PC Quest for V-lab.

·         Basic computer education program, “Swift” gained national mindshare as 7,000 students from 500 schools across India competed at ‘Vish Come True’ national Chess competition, for a chance to play with NIIT MindChampion Viswanathan Anand.

 About NIIT 

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 15 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.