Press Release

2009

NIIT Limited Q3 (Oct-Dec 2008) Consolidated Results 2008-09

NIIT Limited Q3 (Oct-Dec 2008) Consolidated Results 2008-09
• Global System-wide Revenue up 19% at Rs 389.8 Cr
• Net  Revenue up 17% YoY at Rs. 278.9 Cr
• Individual Learning Solutions enrolments up 23% YoY.
• School Learning Solutions revenue up 74% YoY.
• NIIT Uniqua, the NIIT-Genpact venture, completes full quarter of operations.

 
New Delhi, January 20, 2009: For the quarter ending December 31, 2008, NIIT Limited, the leading Global Talent Development Corporation has posted consolidated net revenues of Rs. 278.9 Cr, representing a 17% growth YoY.  The company’s system-wide revenue stood at Rs. 389.8 Cr, up 19%  YoY.
In this quarter, the company recorded Profit After Tax of Rs 5.5 Cr compared to Rs 13.9 Cr for the same period last year. The launch of NIIT Uniqua and   increased depreciation due to new school projects  impacted  PAT  for the quarter.  NIIT has expanded its presence to over 7800 schools, an increase of 3000 schools compared to the same quarter last year.
The results were taken on record at the meeting of the Board of Directors here today.
Commenting on the company’s performance and growth plans, NIIT Chairman Mr. Rajendra S. Pawar said, “The launch of NIIT Uniqua strengthens the portfolio of Talent Development offerings from NIIT.”

Individual Learning Solutions – IT recorded 20% growth in net revenue YoY and 23% growth in enrolments. In China, NIIT recorded 71% growth in revenue over the same period last year.

Responding to changes in the environment, NIIT introduced six new programmes for graduates and final year students to make them job ready. The programmes offer superior value in shorter durations ranging from 99 days to up to 200 days.
According to Mr. Vijay K. Thadani, Chief Executive Officer, NIIT Limited, “New initiatives and products contributed to robust growth of 23% in enrolments, globally.”
NIIT, together with major technology partners, launched a series of new edge programs for Science & Technology graduates in China in this quarter.

School Learning Solutions recorded robust growth of 74% YoY in net revenue.
In this quarter, NIIT launched the first-ever solution which integrates Science Labs with classrooms – NIIT eGuru Smart Science Station.
Mr. P. Rajendran, COO, NIIT said, “NIIT’s launch of the unique Smart Science Station which brings the Science Lab into the classroom follows the successful introduction of the Math Lab in schools.  ”
NIIT further enhanced its offerings with introduction of NIIT e-GURU Web & Multimedia curriculum, based on world-class Adobe Creative Suite of Products.
Finance & Management Training Solutions increased its offerings with the launch of a new financial literacy program and a Career Program for college students. In this quarter, FMT forged alliances with Fullerton Securities and Laxmi Vilas Bank.
Corporate Solutions recorded growth of 7% YoY in net revenue.
With fresh order intake during the quarter at USD 31.8 million, CLS closed the quarter with a pending order book of USD 81.13 million, up 24% YoY.
Other highlights of Q3 2008: 
- NIIT was conferred the ‘Top Training Company Award 2008’

  by the country’s leading publication group Cybermedia, the

  publisher of Dataquest.
- NIIT, USA, was awarded the Gold for Excellence in E-

  Learning Award by Chief Learning Officer magazine as part

  of its Learning In Practice Awards, one of the industry's

  highest honors.
- NIIT announced the endorsement of TOEIC® (Test of

  English for International Communication™) by leading

  corporations namely - 24/7 Customer, Wipro, Inventurus,

  Call2Connect, Fiserv, HCL, HTMT, Steria, and Minacs.
- NIIT announced its first batch of GNIITians with Microsoft

  Certification. 
- NIIT’s DigiArt Festival, iPaint 08, an annual digital painting

  competition, received a record 80,000 entries this year from

  schools across India. The overwhelming response was due

  to the green initiative wherein, paintings were uploaded

  by the schools on a specially created site.
- NIIT MindChampions Academy was launched in over 400

  schools of Bihar.
- As part of NIIT Imperia Leadership Series, World Chess

  Champion and NIIT MindChampion Viswanathan Anand,

  addressed management students and professionals

  simultaneously across 19 cities  on Management Strategy.