Press Release

2024

NIIT Limited announces Q3 FY24 (October-December 2023) results

  • Q3 Revenue at Rs. 852 million, grows 5% QoQ
  • EBITDA at Rs. 78 million, EBITDA margin at 9%, up 646 bps QoQ and up 55 bps YoY
  • Profit After Tax at Rs. 144 million, up 35% QoQ

NIIT Limited

Consolidated Financials for Quarter ended December 31, 2023​

​(in Rs. million)

Quarter ended

December 31, 2023

Quarter ended September 30, 2023

QoQ change

Net Revenue

852

814

5%

EBITDA

78

22

+Rs. 56 million

Profit After Tax

144

106

+ Rs. 38 million

  Note: Results include impact of the demerger of NLSL from NIIT Limited from April 1, 2022

New Delhi, February 02, 2024: NIIT Limited (Ticker Symbol: NIITLTD), a leading skills & talent development corporation, today announced its financial results for the third quarter ended December 31, 2023.

During the quarter, the company recorded Net Revenue of Rs. 852 million, up 5% QoQ and down 9% YoY. EBITDA was recorded Rs. 78 million as compared to Rs. 22 million in Q2 FY24. Profit After Tax was Rs. 144 million as compared to Rs. 106 million in Q2 FY24 and Rs. 143 million in Q3 FY23.

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

Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited, commented, “We are expanding in BFSI and increasing penetration across GCCs. We continue to see sequential recovery in business despite the ongoing hiring freeze in the technology sector.”

During the quarter, the company provided training for over 10,000 employees of prominent private banks and financial services companies. The company is also working with several customers to train and equip their workforce on Gen AI skills and working with some of them to build organization-wide learning paths focused on Gen-AI.

In Q3, NIIT’s wholly owned subsidiary, RPS Consulting announced partnership with ServiceNow, leveraging unique expertise to extend ServiceNow solutions to more organizations and markets. The company also entered a partnership with OffSec, to deliver cutting-edge cybersecurity solutions and empowering organizations with advanced security expertise.

Rajendra S Pawar, Chairman and Co-Founder, NIIT Group, said, “At NIIT, we believe in empowering individuals to realize their true potential, and the results demonstrate our contribution in shaping skilled and capable workforce for the future. We are investing in new offerings across AI and other new age skills that are expected to lead to aspirational careers for both early career and working professionals.”

About NIIT Limited

NIIT Ltd. is a leading skills & talent development corporation, set up in 1981 to help the nascent IT industry overcome its human resource challenges. The company today ranks amongst the world's leading training organizations owing to its vast and comprehensive array of talent development programs.

NIIT Ltd. delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in futuristic domains through its various businesses including NIIT Digital, StackRoute, RPS Consulting, Institute of Finance Banking & Insurance (IFBI), TPaaS and Sales & Service Excellence (SSE).

  • The robust NIIT Digital platform enables distinctive learning experiences for corporate and individual learners.
  • IFBI is a leading provider of learning services for early career as well as working professionals for the BFSI sector in India.
  • NIIT StackRoute is a digital transformation partner for corporates to build multi-skilled full stack professionals in advanced technologies at scale.
  • RPS Consulting is a leading provider of training programs on emerging digital technologies for experienced technology professionals.
  • Talent Pipeline as a Service (TPaaS) helps organizations address the challenge of securing mid to long term talent across Technology, Marketing, and Sales Roles.
  • NIIT SSE has deep expertise in empowering businesses in creating an eco-system for talent development to enhance key competencies & elevate performance to achieve higher business outcomes.

For more information about NIIT visit: www.niit.com

For Media query, Please contact

Abhishek Puri

Senior Manager, NIIT Limited

Ph: (Cell) + +91 9953300852

Email: abhishek.puri@niit.com

 

Anuradha Chawla

Sr Account Director, AvianWE

Ph: (Cell) +91 9899965560

Email: anuradha@avianwe.com

Investors may contact:

Kapil Saurabh

Vice President, NIIT Limited

Ph (Cell) +91 9899117793,

(Dir) +91 124 4293324

Email: kapil.saurabh@niit.com

Visit us at: www.niit.com

Follow us on: www.twitter.com/niitltd

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About NIIT

NIIT is a leading Global 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, yet comprehensive array of talent development programs. With a footprint across 30 nations, NIIT offers training and development solutions to Individuals, Enterprises and Institutions.