Press Release

2011

NIIT Limited announces Q2 (July-Sept ’11) consolidated results FY 2011-12

Growth platforms gain momentum

·        Revolutionary NIIT Cloud Campus enrolments cross 11,000
·        Managed Training Services registers 62% volume growth YoY
·        NIIT solutions for schools surpasses 10 million students mark
·        NIIT partners with NSDC for vocational skills to train 7 million youth in 10 years
·        Net revenue up 11% YoY at383.8 Cr
·        PAT up 6% YoY at 30.2 Cr

New Delhi, October 21, 2011:For the quarter ending September 30, 2011, NIIT Limited, leading Global Talent Development Corporation and Asia’s largest IT trainer, recorded global system-wide revenue of 623.5 Cr, an increase of 9% YoY with net revenue of 383.8 Cr, up 11% YoY. The Company recorded PAT of 30.2 Cr up 6% YoY.

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

NIIT Limited :Q2 (July- September, 2011) Consolidated Financials at a glance (in Cr)

Quarter ended
September 30, 2010

Quarter ended
September 30, 2011

Growth
YoY
Net Revenue
345.8
383.8
11%
EBITDA
53.2
56.0
5%
EBITDA%
15%
15%
Profit After Tax
28.5
30.2
6%

According to Mr Rajendra S Pawar, Chairman, NIIT Limited, “The NIIT Cloud Campus roll-out is transforming learning for a record 11,000 newly enrolled students.”

NIIT continued with its aggressive drive to roll out Cloud Campus across India, by recording 11,000 enrolments for this initiative, since its launch in Q1. One of the most important initiatives of NIIT in recent times, the new-age GNIIT- “India’s first Cloud Campus”, is based on cutting-edge cloud computing technology.Students enjoy higher mobility as they can access educational services using a Netbook or a Mobile device that connects them to NIIT’s Cloud CampusTM network through data cards.This introduces a revolutionary educational paradigm called collaborative learning which fundamentally changes the traditional classroom based, student-teacher relationship.

With a thrust on vocational skills training, NIIT entered into one of the largest public-private partnerships with National Skill Development Corporation (NSDC) to enhance skills and employability of youth across India. Through this partnership it is estimated that around 7 million youth will be trained by 2022, in multi-skilling mode. NIIT willsetup over 1500 state-of-the-art NIIT Yuva Jyoti Centres, across 1000 cities in India.

Speaking on the significant partnership with NSDC, Mr. Vijay Thadani, CEO, NIIT Limited said, “NIIT- NSDC partnership for vocational skills aims to train 7 million youth in 10 years.”

Individual Learning Solutions recorded net revenue of180.2 Cr, up 12% YoY. This was supported by 11% increase in short term modular enrolments, with India (IT) Placements growing at 15% YoY on the back of continued acceptance of NIIT graduates.

During the quarter, NIIT reaffirmed its leadership position in the IT training space by being ranked as the Dataquest Top IT Training Company 2011, for the 19th consecutive year.

Institute of Finance, Banking and Insurance (IFBI) launched – “BankVantage”- comprehensive career programs in banking, designed and endorsed by the industry. These programs-- Post Graduate Diploma in Banking, Diploma in Banking and Certificate in Banking, will develop first day-first hour ready professionals for the Banking sector.

School Learning Solutions (SLS)recordednet revenue of 40.5 Cr, up 12% YoY and added 133 schools during the quarter.NIIT crossed a significant milestone this quarter with SLS surpassing the 10 million students mark.

NIIT NGuru- solutions for schools got empanelled by CBSE’s Continuous and Comprehensive Evaluation (CCE) training program for teachers.

Referring to the wide impact of NIIT NGuru in shaping young minds, Mr P Rajendran, COO said, "NIIT has now created another record of imparting ICT education to 10 million school children in India".

Corporate Learning Solutions (CLS)recorded net revenue of 163 Cr, up 10% YoY. Order intake for CLS was at USD 27.9 mn for the quarter. The closing order book stood at USD 77.8 mn, with 62% executable in the next 12 months.

During the quarter the Company strengthened the execution of 6 newly acquired Managed Training Services (MTS) deals, signed in the previous year, worth USD 110 Mn in potential revenue over the next 5 years. MTS itself registered a volume growth of 62% YoY.

In a recent development,NIIT divested its stake in its step-down subsidiary, Element K Corporation and entered into strategic long-term services and licensing agreements with SkillSoft Corporation to expand its MTS business as a key platform for growth. NIIT has already added six clients in the MTS business over the last one year. The cash flow from the sale will allow NIIT to focus on businesses that offer high growth potential, namely -Cloud Campus, Vocational Skills Training (NIIT Yuva Jyoti), School Learning Solutions (NIIT NGuru) & MTS.

Other highlights:

-         NIIT was voted India’s second most trusted Education brand by Brand Equity-Nielsen Survey 2011
-         NIIT collaborated with IBM for Career Education Projects to provide IT industry skilled professionals with experiential learning
-         NIIT Bhavishya Jyoti Scholarship (BJS) - 2011 aimed at empowering financially challenged meritorious students with exciting careers in the IT Industry was conducted across India
-         NIIT organized India’s first Cloud Scholarship test across seven metros in India
-         Showcased Enterprise Learning Solutions at the CLO (Chief Learning Officers) Summit India
-         NIIT Foundation launched Career Development Centres in Delhi, Mumbai and Orissa to provide job-oriented training to under-served youth of the society
-         NIIT Foundation adjudged ‘Best Private Sector Skills Provider’ at UK India Skills Forum (UKISF) Awards 2011
-         NIIT was adjudged the ‘Best Result Oriented ICT School’ in Ghana for the second consecutive year
-         NIIT Vietnam received ICT Gold Medal Award 2011 for the 6th Consecutive Year from the Ho Chi Minh Computer Association

About NIIT

NIIT Limited, a leading Global Talent Development Corporation and Asia’s premier IT trainer, offers learning and knowledge solutions across 40 countries. Leading IT journal Dataquest has conferred upon NIIT the ‘Top IT Training Company’ award successively for the past 19 years, since the inception of this category.
NIIT’s Individual Learning Business offerings include industry-endorsed programs for students seeking careers in IT – GNIIT and Edgeineers, and Global Net Plus for IT professionals. The company has introduced “India’s first cloud campus”, through its new-age GNIIT program. This offers students a higher mobility as they can access courseware using Netbooks and data cards that connect seamlessly to NIIT’s Cloud Campus network.
NIIT’s Corporate Learning Solutions offers Managed Training Services including integrated learning solutions (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 Yuva Jyoti, a joint venture between NIIT and NSDC, offers vocational skills training programs to enhance employability of youth across India.
NIIT Imperia - Centre for Advanced Learning, offers Executive Learning Programs in association with leading Business schools in India, KPMG, Google India and Internet and Mobile Association of India (IAMAI), using the synchronous learning platform.
NIIT Institute of Finance Banking & Insurance (IFBI), formed b