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NIIT Limited Announces Q3 (October – December 2019) Consolidated Results

by businesswireindia.com

Business Wire India
  • PAT grows 40% YoY, at Rs. 27.1 Cr; EPS up 65% YoY
  • Records Net Revenue at Rs. 247.6 Cr, up 10% YoY
  • EBITDA up 10% YoY at Rs. 24.6 Cr
  • Corporate Learning Group (CLG) grows 17% YoY
  • CLG adds 2 new MTS customers; CLG revenue visibility grows to $265 Mn up 4% YoY
NIIT Limited
Consolidated Financials for Quarter ended December 31, 2019  ​ ​
​(in Rs. Crore) Quarter ended
December 31, 2019  
Quarter ended
December 31, 2018  
YoY change
Net Revenue 247.6 225.5 10%
EBITDA 24.6 22.4 10%
Profit After Tax 27.1 19.4 40%
NIIT Limited reported its results for the third quarter ending December 31, 2019. During the quarter, the company recorded a Profit After Tax of Rs. 27.1 Cr, up 40% YoY and Net Revenue of Rs. 247.6 Cr, up 10% YoY. EBITDA was recorded at Rs. 24.6 Cr, up 10% YoY. Operating Margin stood at 10%.
The results were taken on record at the meeting of the Board of Directors held today.
Speaking on the company’s performance, Mr. Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, “During the quarter, NIIT delivered strong Profit After Tax of Rs. 27.1 Cr, up 40% YoY, backed by a robust growth of 17% YoY in Corporate Learning Group.”

Corporate Learning Group (CLG) recorded net revenue of Rs. 189.5 Cr up 17% YoY. It added 2 new Managed Training Services (MTS) customer in Q3. 
Commenting on the quarter performance, Sapnesh Lalla, CEO, NIIT Ltd. said, “Corporate Learning Group acquired 2 new MTS customers, resulting in an increased revenue visibility of $265 Mn. Our key initiatives in India, StackRoute and TPaaS combined grew 11% YoY.”
Skills & Careers Group (SNC) recorded net revenue of Rs. 54.4 Cr during Q3.
NIIT held the 3rd India edition of its international customer conference – NIIT Confluence – in Goa from November 13-15, 2019. Based on the theme ‘Performance Matters – The Role of Learning in Transformative Growth’, Confluence India attracted widespread participation from thought leaders and CHROs in the space of Learning & Development from organisations like – INDwealth, Reliance Industries, Reliance Jio, Vodafone Idea, IBM, Capgemini, KPMG, ICICI Bank, Yes Bank, CGI, Wipro Digital, Infosys, Cognizant, JP Morgan Chase & Co., and Automation Anywhere.

Share buyback update
During the quarter, the company completed buyback of 2.68 crore equity shares after approval from the shareholders of the company at Rs. 125 per share, representing approximately 16% of the total paid up equity share capital for an aggregate amount of Rs. 335 crore, exclusive of taxes. 
Other highlights:
  • NIIT won the ‘Vocational & Skill Development Training Institute’ award under Education Category at the 17th Franchise Awards 2019
  • NIIT earned 37 coveted Brandon Hall Group HCM Excellence awards jointly with customers. The company was named a top winner for 2019
  • NIIT bagged seven 2019 Brandon Hall Excellence in Technology Gold awards jointly with MetLife for MetLife Distribution Academy
  • NIIT was accredited by the Learning & Performance Institute, UK

Source: Businesswire