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*Q1 PAT affected by Rs.
10.5 Cr reduction in treasury income YoY, led by mark-to-market impact on fixed income MF investments
New Delhi, July 28, 2022:
NIIT Limited (NSE: NIITLTD), a leading global talent development corporation, today reported the results for its first quarter ending June 30, 2022. During the quarter, the company recorded Net Revenue of Rs.
404.8 Cr, up 34% YoY and 8% QoQ. EBITDA was Rs. 74 Cr, up 5% YoY and the EBITDA margin stood at 18.3%.
Profit After Tax was recorded at Rs. 44.3
Cr. EPS stood at Rs 3.3. The results were taken on record at the meeting of the Board of Directors held today.
Commenting on the results,
Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said,
"In face of increasing global uncertainty and rapid macro-economic changes, NIIT continued its growth momentum resulting in a strong revenue growth of 8% QoQ and 34% YoY."
Corporate Learning Group (CLG) recorded net revenue of Rs. 312.5 Cr, up 18% YoY and 6% QoQ. CLG added 4 new MTS customer contracts as well as one contract expansion and one contract renewal during the quarter. The revenue visibility for CLG, at the end of the quarter was at USD 304 million. The total number of MTS customers stand at 68.
Skills & Careers Group (SNC) recorded net revenue of Rs. 92.3 Cr during Q1, up 145% YoY and 16% QoQ.
The quarter saw NIIT strengthening its association with Salesforce as its Authorized Training Partner by offering programs on Salesforce to fresh graduates and working professionals, to build a pan-India talent pool of Salesforce Certified Professionals.
During the quarter, NIIT Digital expanded its reach and launched New Age Dual Qualification programs for college students. These programs are designed to equip college students with multidisciplinary new age skills, giving them the edge, they need early on for a successful corporate career.
NIIT'S subsidiary, NIIT Institute of Finance, Banking and Insurance (NIIT IFBI) entered into partnerships with HDFC Bank and Kotak Mahindra Bank to build new age Digital Talent in fintech and data engineering roles for the banking industry. It also joined hands with Bajaj Finserv to scale up the reach of Bajaj Finserv's Certificate Program in Banking, Finance, and Insurance (CPBFI).
Commenting on the quarter,
Sapnesh Lalla, CEO and Executive Director, NIIT Ltd. said,
"Talent remains a top priority for CEOs globally and NIIT continues to enjoy a preeminent position as a preferred partner for talent transformation for some of the largest corporations in the world, resulting in sustained growth momentum in both the businesses."
About NIIT Limited
NIIT Limited is a leading global talent development corporation that is engaged in building skilled human capital and enhancing workforce talent worldwide. Set up in 1981 to help the nascent IT industry overcome its human resource challenges, NIIT ranks amongst 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 delivers learning interventions that create superior outcomes. The company offers training and development solutions to enterprises and individuals through its two businesses– Corporate Learning Group (CLG) and Skills & Careers Group (SNC).
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 futuristic domains. Further, NIIT also provides a series of aspirational New-age Career Programs in Product & Software Engineering, Data Science, Digital Marketing, Banking, Finance & Accounts, Game Development, 5G certification program, and more. 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. Committed to its mission to deep skill the youth of the country NIIT Digital not just offers new age, online, instructor led tech courses but also follows through with placement assurance to truly transform the lives of the learners.
An organisation that helps people realise their true potential, NIIT has been featured as the only company in Educational Services Industry, in the Fortune India 500 list 2020. The company was recognised as "Best Education Company to work with" at Indian Education Congress & Awards 2020. NIIT's learning and talent development solutions, continue to receive widespread recognition globally. NIIT has been named among the Top 20 Training Outsourcing Companies globally for the past 15 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.
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