Company Name : NIIT Limited
Friday, October 30, 2020 3:50PM IST (10:20AM GMT)
New Delhi, Delhi, India
- Revenue recorded at Rs. 218.9 Cr, up 8% QoQ
- EBITDA at Rs. 34.4 Cr, up 41% QoQ; EBITDA Margin at 16% up 367 bps QoQ
- Corporate Learning Group (CLG) records revenue growth of 9% QoQ and EBITDA margin of 20%
- CLG signed up 2 new MTS Customers, 2 contract expansions and 2 renewals
- CLG ends the quarter with 56 MTS customers and revenue visibility at $ 259 Mn
Consolidated Financials for Quarter ended September 30, 2020
|(in Rs. Crore)||Quarter ended
Sep 30, 2020
June 30, 2020
|QoQ change||Quarter ended
Sep 30, 2019
*(refer note 1)
*(refer note 1)
|EBITDA %||16%||12%||367 bps||13%||322 bps|
*Note 1: The results of previous year have been restated for a Like-to-Like comparison in accordance with Accounting Standards.
NIIT Limited (NSE: NIITLTD), a global leader in skills and talent development, today reported its results for the second quarter ending September 30, 2020. During the quarter, the company recorded Net Revenue of Rs. 218.9 Cr. EBITDA was Rs. 34.4 Cr. up 18% YoY and the EBITDA margin stood at 16%, up 322 bps YoY. Profit After Tax was recorded at Rs. 26.0 Cr, reflecting an EPS of Rs. 1.84 per share.
The results were taken on record at the meeting of the Board of Directors held today.
Speaking on the company’s performance during the quarter, Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, “The organisation demonstrated tremendous resilience to strengthen its market position and improve operational efficiency, while accelerating the pace of Digital Transformation in all aspects of the business.”
The organisation transitioned learning delivery to NIIT Digital, moved to seamless work-from-home to ensure continuity and launched new offerings catering to the evolving requirements of its customers and learners.
During the quarter Rajendra S Pawar, Chairman & Co-Founder, NIIT Group & Founder, NIIT University was felicitated with the 'Lifetime Achievement Award' at Dataquest ICT Awards 2019. The award was presented during a Special Webinar on ‘40 Years of ICT Industry and the Next 10 Years’.
Corporate Learning Group (CLG) recorded net revenue of Rs. 194.1 Cr, up 9% QoQ and 12% YoY. CLG added two new managed training services customers (one customer in the Telecom sector and another in the FMCG sector) and expanded its relationship with two existing clients while renewing contracts with two additional customers. The number of MTS customer tally stands at 56 and Revenue Visibility at the end of the quarter was at $ 259 million.
NIIT earned 30 coveted Brandon Hall Group HCM Excellence awards jointly with customers, during the quarter. The awards include prestigious honors for its Eagle Productivity Solutions and StackRoute divisions.
Commenting on the quarter performance, Sapnesh Lalla, CEO, NIIT Ltd. said, “The Corporate Learning Group (CLG) continues to see momentum in attracting new customers and retaining and expanding existing relationships. In the first half of the year CLG added 5 new MTS logos, and has strong revenue visibility of $ 259 Mn. Our customers see NIIT as a partner who can help them become an Adaptive Learning Organization so that they can respond to fast changing business needs.”
Skills & Careers Group (SNC) recorded net revenue of Rs. 24.7 Cr during Q2. The India business is starting to see recovery driven by StackRoute and TPaaS (Talent Pipeline as a Service) which grew 77% QoQ. SNC has transitioned its customers to the NIIT Digital platform.
StackRoute announced the launch of new line of programs in Data Engineering. Titled, ‘Enterprise Big Data Engineering & Machine Learning using Spark’ and ‘Enterprise Big Data Engineering using Databricks & Delta Lakes’ - these programs help enterprises to equip their workforce having prior experience in data projects, with steps and tools for designing and solving business challenges that fall in the category of Data Analysis and Big Data.
NIIT is a leading Skills and 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 and comprehensive array of talent development programs. With a footprint in over 30 countries, NIIT offers training and development solutions to Individuals, Enterprises and Institutions. NIIT has two main lines of business across the globe – Corporate Learning Group and Skills & Careers Business.
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 areas including Digital Transformation, Banking, Finance & Insurance, Retail Sales Enablement, Digital Media Marketing, and new-age IT. 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.
NIIT's learning and talent development solutions, continue to receive widespread recognition globally. NIIT has been named among the Top 20 Training Outsourcing Companies for the past twelve 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.
Visit us at: www.niit.com
Follow us on: www.twitter.com/niitltd Source: BUSINESS WIRE INDIA
More News from NIIT Limited
NIIT, a global skills and talent development company and leading provider of managed training services, announced today that it is has been featured in the 2020 Top Training Companies™ list for the information ...
NIIT, a global skills and talent development company and leading provider of managed training services, announced today that it is has won two coveted 2020 Learning Technologies Awards jointly with MetLife.
Randstad India, a leading player in the HR services industry, has entered into an exclusive partnership with NIIT Limited, a global leader in Skills and Talent Development to launch the Randstad Skilling Academy. RSA is ...
Market Insight Solutions Gives PhD Candidates a New Edge with Specialized Guidance Services in India
Doctoral candidates can now seek expert support for their theses through a specialized PhD guidance service, curated by Market Insight Solutions, one of the world’s leading market research firms.