Press Release

Q3 Net Profit up 36% YoY 

·         Q3 PAT up 36% YoY

·         Individual Learning Solutions Revenue up 12%

·         Corporate Learning Solutions records order intake of USD 33.1 Mn

·         New Businesses grow 33% YoY in Revenue

New Delhi, January 21, 2011: NIIT Limited, leading Global Talent Corporation and Asia’s largest IT trainer, today reported its results for the quarter ending December 31, 2010. In this quarter, the company recorded Profit after Tax of 12.9 Cr representing a 36% growth YoY, despite Q3 being a traditionally low cyclic quarter.

The Company’s Net Revenue stood at 300.7 Cr, up 6% YoY with System Wide Revenue growing by 5% YoY to 414.7 Cr. The EBITDA was at 37 Cr reflecting a margin of 12%, an improvement of 130 bps.

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

“New Businesses grew 33%”, said Mr Rajendra S Pawar, Chairman NIIT Limited while commenting on the Company’s performance. “With skills shortages becoming pervasive, NIIT is positioning itself for future opportunities”, added Mr Pawar.

In recognition of its continuing contribution to the IT industry, NIIT received the prestigious ‘Top IT Training Company Award 2010’ by the country’s leading IT publication- Dataquest, for 18th consecutive year during this quarter.

Individual Learning Solutions – IT recorded a 12% growth in net revenue YoY and a 142 bps margin improvement in Q3.

A 46% growth in job-oriented diploma programs and 24% growth in Edgeineers series vindicated the success of these programs to provide job-ready skills. During the quarter, SAP training business picked up significant momentum.

Consistent growth in placements, with 30% growth in Q3, indicated the industry’s continued acceptance of NIIT trained students.

New Businesses led by Finance & Management Training (FMT) recorded a 33% YoY growth in revenue. Institute of Finance, Banking and Insurance (IFBI) reached the milestone of placing more than 10,000 students since inception. IFBI further added 10 more clients during the quarter taking the total tally to 35. NIIT Imperia successfully commenced the second batch of Executive MBA Program for Working Professionals in partnership with IGNOU.

“PAT grew 36%”, said Mr Vjay K. Thadani, Chief Executive Officer, NIIT Limited. “12% revenue growth in Individual Learning Solutions and strong order intake of USD 33.1 Mn in Corporate Learning Solutions contributed to this growth”, added Mr Thadani.

Order intake for Corporate Learning Solutions was at USD 33.1 Mn for the quarter as a result of significant customer wins in Managed Training Services. The closing order book stood at USD 92.5 Mn

NIIT Element K launched new enterprise mobile learning solution during the quarter. This service allows business professionals to access business training courses or proprietary content via Smartphone devices. 

NIIT entered into a strategic alliance with Salesforce.com to offer training programs in Salesforce CRM for Administrators, Developers and Consultants, and to working professionals and freshers as well.

School Learning Solutions showed a robust growth in the private schools space, clocking a 68% growth in numbers added Year to date.

During the quarter, NIIT strengthened its alliance with Ryan International Group of Institutions, by launching its state-of-the-art ‘NIIT eGuru Math lab’ at Ryan International Schools in Greater Noida and Bangalore. NIIT also tied up with Mayoor School, Raipur, to offer holistic learning experience to the students through its eGuru suite of learning solutions.

“Revenue from IT education in private schools grew 28%”, said Mr P Rajendran, Chief Operating Officer, NIIT Limited, “Focused growth in private schools segment coupled with launch of innovative products contributed to this growth”, added Mr Rajendran.

NIIT recently associated with the Government of Gujarat to set a New Guinness World Record in simultaneous Chess, where 20,480 players played Chess together, under the guidance of World Chess Champion and NIIT MindChampion Viswanathan Anand. Over 12,000 participants were school students from the NIIT MindChampions’ Academy, a joint initiative between NIIT and World Chess Champion Viswanathan Anand to promote Chess in schools.

Other highlights of Q3 2010: 

·       NIIT USA was named in the 2010 Top 20 IT Training Companies list by TrainingIndustry.com

·         NIIT receives Franchisor of the Year Award at Franchise Plus Awards 2010 for developing the Best Business Model in the Field of Education: Information Technology

·         NIIT USA received the prestigious Learning in Practice Award from Chief Learning Officer (CLO) magazine, winning the CLO Gold Excellence Award for its accomplishments in the Excellence in Content category

·         Brandon Hall named NIIT a Silver winner at the 2010 Brandon Hall Excellence in Learning Awards

·       NIIT (USA) honoured as the Top Marketer: Sales Impact, and Finalist in Marketing Visionary 2010 at Fourth Annual Markie Awards by Eloqua

·        Element K finishes as a Finalist in the Best of Elearning! 2010

·       NIIT Cognitive Arts Wins Bronze Brandon Hall Learning Award

·        NIIT was awarded Microsoft’s “Learning Solutions Partner” for the third consecutive, making it the only company in India to achieve this honour

·        NIIT signed an MoU with delegates from UMY and Bina Darma Universities of Indonesia, as a step to impact the lives of 100,000 learners in Indonesia over a period of next 5 years

·        NIIT Limited inducts Madhabi Puri Buch, Managing Director & CEO, ICICI Securities Limited, as an Independent Director on its Board

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 18 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. 

NIITdelivers 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/ Reema Bardhan, NIIT Ltd
Ph: +91 9910201085/ +91 9891267470
Email id : prateek.chatterjee@niit.com / reema.bardhan@niit.com

Visit us on www.niit.com
Follow us at www.twitter.com/niitltd