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Consolidated Financials for Quarter ended December 31, 2020
December 31, 2020
December 31, 2019
New Delhi, February 05, 2021: NIIT Limited (NSE: NIITLTD), a global leader in skills and talent development, today reported its results for the third quarter ending December 31, 2020. During the quarter, the company recorded a Profit After Tax of Rs. 41.5 Cr, up 53% YoY and Net Revenue of Rs. 253.4 Cr, up 16% QoQ, 4% YoY. EBITDA was Rs. 47.1 Cr. up 64% YoY and the EBITDA margin stood at 18.6%, up 685 bps YoY.
The results were taken on record at the meeting of the Board of Directors held today.
Earlier during the quarter, the Board of Directors of the Company approved a proposal for buyback of up to 98.75 Lac equity shares for an aggregate amount not exceeding Rs. 237 Cr at a price of Rs. 240/- per Equity Share. The Buyback is subject to the approval of the shareholders and other regulatory permissions.
Speaking on the company's performance, Mr. Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, "The continued agility and strong execution capability has resulted in robust growth of 16% QoQ and 287 bps QoQ improvement in EBITDA margin.
The last three quarters have seen our customers accelerate their adoption of NIIT's Digital platform. This is a strong testimony to NIIT's depth and breadth of experience in learning technologies", added Mr. Thadani.
Corporate Learning Group (CLG) recorded net revenue of Rs. 217.5 Cr up 12% QoQ, 15% YoY. It added 3 new Managed Training Services (MTS) customers and 4 MTS customer renewals in Q3. Revenue visibility increased to $270 Mn.
Commenting on the quarter performance, Sapnesh Lalla, CEO, NIIT Ltd. said, "Corporate Learning Group acquired 3 new MTS customers, resulting in an increased revenue visibility of $270 Mn. The key initiatives in the SNC business, including NIIT Digital, StackRoute and TPaaS continued to gain momentum."
Skills & Careers Group (SNC) recorded net revenue of Rs. 35.9 Cr during Q3.
NIIT held the 4th India edition of its international customer conference - NIIT India Confluence from January 12-13, 2020. The 2-day exclusive virtual summit saw representation from around 170 companies. Confluence India attracted widespread participation from CEOs, CHROs, Business Leaders, along with thought leaders from across the world coming together to deliberate on the conference theme - 'Accelerating Performance through Transformative Learning'.
During the quarter P. Rajendran, Joint Managing Director & Co-Founder, NIIT Ltd. was felicitated with the prestigious IIT Delhi Alumni Award for Outstanding Contribution to National Development - Corporate Excellence.
NIIT is a leading Skills and Talent Development Corporation that is building a manpower pool for global industry requirements. The company, which was set up in 1981 to help the nascent IT industry overcome its human resource challenges, today ranks among the world's leading training companies owing to its vast and comprehensive array of talent development programs. With a footprint in over 30 countries, NIIT offers training and development solutions to Individuals, Enterprises and Institutions. NIIT has two main lines of business across the globe – Corporate Learning Group and Skills & Careers Business.
NIIT's Corporate Learning Group (CLG) offers Managed Training Services (MTS) to market-leading companies in North America, Europe, Asia, and Oceania. The Skills & Careers Business (SNC) delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in areas including Digital Transformation, Banking, Finance & Insurance, Retail Sales Enablement, Digital Media Marketing, and new-age IT. NIIT has incubated, StackRoute, as a digital transformation partner for corporates to build multi-skilled full stack developers at scale. As online and remote learning becomes mainstream, the robust NIIT Digital platform connects the corporate and individual learners seamlessly and provides an environment for improving learning effectiveness and efficiency.
NIIT's learning and talent development solutions, continue to receive widespread recognition globally. NIIT has been named among the Top 20 Training Outsourcing Companies for the past twelve consecutive years by Training Industry, Inc. USA. Further, leading Indian ICT journal Dataquest has conferred upon NIIT the 'Top Training Company' award successively for the past 20 years, since the inception of this category.
For Media queries please contact
Senior Vice President, Corporate Communications & Marketing, NIIT Limited
Ph: (Cell) +91 9910201085, (Dir) +91 124 4293041
Corporate Communications & Marketing, NIIT Limited
Ph: (Cell) +91 9999601154, (Dir) +91 124 4293042
Investors may contact:
Kapil Saurabh, NIIT Limited,
Ph (Cell) +91 9899117793,
(Dir) +91 124 4293324
Visit us at: www.niit.com
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