Q1 Net Profit up 32% YoY
·
Q1 PAT up 32 % YoY at Rs. 13 Cr on a Net Revenue of Rs. 278 Cr
·
School Learning Solutions records order intake of Rs. 158 Cr; Adds 1,231 schools
·
Corporate Learning Solutions records order intake of USD 34 Mn
·
China revenue grows 32% YoY |
New Delhi, July 21, 2010:
NIIT Limited, leading Global Talent Corporation and Asia’s largest IT trainer, today reported its results for the first quarter ending June 30, 2010.
In this quarter, the company recorded Profit after Tax of Rs 13 Cr representing a 32% growth YoY.
The Company’s Net Revenue stood at Rs. 278 Cr, up 7% YoY with System Wide Revenue growing by 9% YoY to Rs. 401 Cr. The EBITDA was at Rs. 28.7 Cr reflecting a margin of 10%.
The results were taken on record at the meeting of the Board of Directors of NIIT Limited here today.
NIIT Limited : Consolidated Financials at a Glance
(in Rs Cr) |
|
Qtr ended
Jun 30,‘09 |
Qtr ended
Jun 30,‘10 |
Growth
YoY |
Global System-wide Revenue |
368.8 |
401.3 |
9% |
Net Revenue |
261 |
278 |
7% |
Profit After Tax |
9.9 |
13.0 |
32% |
Commenting on the company’s Q1 performance, Mr Rajendra S Pawar, Chairman NIIT Limited, said,
“We are making investments in people and marketing to cater to strong hiring in IT & other service sectors.”
During the quarter NIIT launched training programs on Microsoft’s Azure platform, with a view to create talent for the fast growing cloud computing space. Under the ‘Global Partnership’ program with IGNOU, a series of ‘finishing school programs’ for enhancing employability were launched.
Corporate Learning Solutions
(CLS)recorded a
net revenue of Rs. 137.7 Cr. Order intake for CLS was at USD 34 Mn for the quarter as a result of significant customer wins in Learning Products and Managed Training Services. The closing order book stood at USD 93 Mn, up 15 % YoY.
Mr Vijay K. Thadani, Chief Executive Officer, NIIT Limited, said
“The Corporate Training Business recorded fresh order intake of USD 34 Mn, reflecting strong customer confidence”
Individual Learning Solution (IT) recorded a net revenue of Rs 90.8 Cr, supported by 8 % increase in global enrolments. Placements grew at 14% YoY on the back of improving hiring. A revenue growth of 32% was recorded in China individual business.
New Businesses
led by Finance & Management Training (FMT) recorded a 122% YoY growth in revenue. Enrolments in FMT business witnessed a growth of 125% YoY during this quarter. Institute of Finance, Banking and Insurance (IFBI) added 4 more banking partnerships, while
NIIT Imperia launched an Executive MBA Program for Working Professionals in partnership with IGNOU.
School Learning Solutions (SLS)
recorded a net revenue of Rs 38.4 Cr backed by fresh order intake of Rs 158.6 crores, representing an addition of 1,231 schools during the quarter. NIIT
launched the ‘Mobile Science Lab’,
an innovative learning solution which integrates Science Lab with classrooms.
According to Mr P Rajendran, Chief Operating Officer, NIIT Limited,
“Focused growth in private schools segment coupled with launch of innovative products such as the Mobile Science Lab, has led to a healthy order intake of Rs. 158.6 Cr covering 1,231 schools.”
Other Highlights of Q1:
·
Element K wins the Brandon Hall Silver Excellence Award for blended learning
·
NIIT (US) Accepts Honors for Learning and Talent Management Solution at Bersin Impact 2010 Conference
·
NIIT (US) ranks amongst Top 10 Training & Learning Business Process Outsourcing Vendor in – Black Book of Outsourcing
·
NIIT Vietnam bags the ICT GOLD MEDAL, consecutively for the 5th time and ICT TOP 5 for the year 2010
·
NIIT HiWEL wins the prestigious Mac Arthur Digital Media and Learning Award
·
NIIT MindChampion Viswanathan Anand became the World Chess Champion for the 4th time. NIIT’s association with World Chess Champion, Viswanathan Anand, including contractual extensions, is the longest running Brand Ambassador contract in the history of Indian sport.
About NIIT
NIIT Limited, leading Global Talent Development Corporation and Asia’s largest IT trainer, has impacted over 5 million students across 40 countries through its learning and knowledge solutions.
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 15,000 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
(or)
Investors may contact:
Kapil Saurabh, NIIT Ltd, Ph: +91 124 4293324; Fax: +91 124 4293333;
Email:
kapil.saurabh@niit.com