Press Release

·         Profit Before Tax up 23% YoY ; Profit After Tax at Rs 69.8 Cr

·         Annual System-wide  Revenue  up 21% YoY  at Rs 1689 Cr

·         4278 new schools added with Order Intake of Rs 332 Cr, up 153% YoY

·         Individual Learning Solution-IT  revenue up 23% YoY

·         Board Recommends Dividend of  65%

New Delhi, May 27, 2009: NIIT Limited, leading Global Talent Development Corporation and Asia’s largest IT trainer, has reported net revenue of Rs 1148 Cr, up 14% YoY for the year ended March 31, 2009.   NIIT reported EBITDA of Rs 118.6 Cr, up 15% YoY.  After adjusting for depreciation of Rs 64.7 Cr and forex hedging losses,   Profit Before Tax is Rs. 49.3 Cr, up 23% over last year.  After adjusting for share of profit from associates and taxation, Profit After Tax is Rs 69.8 Cr leading to an EPS of Rs 4.2 per share. 

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

The Board has also proposed a dividend of 65%, Rs 1.30 per share   

Annual Performance Highlights

The company recorded system-wide revenue of Rs. 1689 Cr, a growth of 21% YoY. EBITDA   stood at Rs. 118.6 Cr, an increase of 15% over last year.

Commenting on the company’s performance, Mr Rajendra S Pawar, Chairman, NIIT Limited said, “Multiple growth strategies yielded results in a challenging environment.”

The year saw NIIT entering into a JV with Genpact to launch NIIT Uniqua, aimed at creating talent pool for Business & Technology Services industry.  Extensive product innovation, with introduction of over 10 new products, improved the competitive position of NIIT.

Individual Learning Solutions (IT) recorded 23% growth in net revenue at Rs 398.2 Cr supported by 19% growth in Career Revenue.  Operating margin grew by 123 basis points to 22% due to improved product mix and growth in international operations.

Responding to the changing market dynamics, NIIT launched "Job-ready" career courses – intensive technology programs to make graduates job-ready in 99 days. This initiative has been acknowledged by the recent Neilsen- Week Survey as being among the best short duration job ready courses in the country. 

NIIT is now CISCO’s Learning Solution Partner for the Asia Pacific region offering certification programs through its own network and CISCO partner centres. Expanding its portfolio, NIIT with SAS Institute Inc., a global leader in business analytics, introduced first-of-its kind specialized curriculum in Business Intelligence.    NIIT together with global technology majors including Pearson VUE, Adobe, Intel and Microsoft added Web 2.0, Multimedia curriculum and testing to its offerings.

NIIT expanded its reach by strengthening its presence in Vietnam, China and in African countries such as Nigeria and Ghana.

School Learning Solutions recorded 37% growth in net revenue at Rs 138.3 Cr. Operating margin improved by 246 basis points to 15% due to operating leverage on higher revenue.

NIIT strengthened its offerings with the launch of NIIT eGuru, a comprehensive school solution with learning tools such as- Interactive Classroom, MathLab, IT Lab and Education Resource Planning Solution.   Smart Science Station, a pioneering solution which integrates Science Labs with classrooms and NIIT e-Guru Web & Multimedia Curriculum, based on Adobe Creative Suite of Products were some of the other new product innovations.

 “NIIT recorded strong growth with orders from State Governments of Rajasthan, Bihar, Maharashtra and Andhra Pradesh. The NIIT eGURU range now comprises a holistic education package which addresses the needs of all stake holders in school education”, said Mr. P Rajendran, COO, NIIT Limited. 

NIIT added 4,278 schools during the year taking the cumulative number of   schools serviced   to   12,159.

The order intake was Rs 332 Cr, up 153% YoY and the Order Book stands at Rs 325.5 Cr, up 147% YoY.

Corporate Learning Solutions recorded net revenue of Rs 578.6 Cr.  

During the year, NIIT added new customers for Learning Products and Training Outsourcing in US, UK and India including Genpact and DELL Corporation.   In the Government Sector, NIIT’s major initiatives include e-learning for the Indian Armed Forces, ICT training programs for the Ministry of Social Justice & Empowerment and the Income Tax Department’s Tax Returns Preparers   scheme which has been repeated for the second year.

Order intake during the year was Rs 637.4 Cr taking the closing order book to   Rs 397.1 Cr , up 22% over last year.

New Business -  Finance & Management Training and  NIIT Uniqua

NIIT widened its offerings with the launch of Financial Education Program, five Executive Management Programs, and Career Programs for college students. NIIT Imperia further strengthened its offerings by launching courses in association with IIM, Lucknow. NIIT Imperia now has relationships with six premier B- Schools.

NIIT Uniqua commenced operations across 12 centres with programs for Voice & Accent Training, Finance & Accounts and   IT services. 

January-March 2009 (Q4) Financial Results

NIIT Limited and its subsidiaries reported system-wide revenue of Rs. 465.2 Cr, a growth of 22% YoY, during the quarter. The company reported net revenue of Rs. 300.8 Cr, up 10% YoY and    EBITDA of Rs 36.4 Cr, up 20% YoY.

Individual Learning Solutions (IT) grew 15%YoY to a net revenue of Rs. 103.5 Cr   while EBITDA grew to Rs 23.7 Cr, up 22% YoY.

School Learning Solutions recorded net revenue of Rs 44.2 Cr, a growth of 16% YoY and EBITDA of Rs 8 Cr, up 83% YoY.

Corporate Learning Solutions recorded net revenue of Rs 148.1 Cr, up 11% YoY and EBITDA of Rs 9.5 Cr, up 59% YoY.   

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