- EBITDA up 69% YoY at Rs. 18.4 Cr on a Net Revenue of Rs. 209.4 Cr
- Corporate Learning Group (CLG) records constant currency growth of 14% YoY
- Acquires Eagle Productivity Solutions in USA; deepens expertise in pharmaceutical and life sciences
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NIIT Limited
Consolidated Financials for Quarter ended December 31, 2017
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|||
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(in Rs. Crore)
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Quarter ended
December 31, 2016
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Quarter ended
December 31, 2017
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YoY change
|
|
Net Revenue
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202.0
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209.4
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4%
|
|
EBITDA
|
10.9
|
18.4
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69%
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Profit After Tax
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4.4
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19.7
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350%
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*Note: The accounts have been prepared based on Ind AS, as on 31st December 2017. To make it comparable on a like-to-like basis, the accounts as on 31st December 2016 have been converted into Ind AS.
Mumbai, January 23, 2018: NIIT Limited (NSE: NIITLTD), a global leader in skills and talent development, today reported its results for the third quarter ending December 31, 2017. During the quarter, the company recorded a PAT of Rs. 19.7 Cr, up 350% YoY and a Net Revenue of Rs. 209.4 Cr. up 4% YoY. EBITDA was recorded at Rs. 18.4 Cr, up 69% YoY. Net debt was recorded at Rs. 41.9 Cr.
The results were taken on record at the meeting of the Board of Directors here today.
Speaking on the company’s performance during the quarter Sapnesh Lalla, CEO, NIIT Ltd. said, “A robust and continuing growth in Corporate Learning Group coupled with strong operational controls in other businesses, resulted in 8% YoY growth in go forward business in constant currency terms, and a 69% YoY growth in EBITDA, despite it being the weakest seasonal quarter.”
Corporate Learning Group (CLG) recorded net revenue of Rs. 129.4 Cr up 14% YoY in constant currency terms, on an EBITDA of Rs 19.8 Cr, up 29% YoY. It renewed a marquee MTS contract resulting in revenue visibility of $ 199 mn, up 44% YoY from 38 MTS customers.
NIIT acquired Eagle Productivity Solutions, a top-rated global provider that specializes in training solutions for companies adopting sophisticated cloud-based applications in the pharmaceutical and life sciences industry. The acquisition will help NIIT expand its training capability for global rollout of cloud-based enterprise applications in the pharmaceutical and life sciences industry.
“We are proud to have Eagle Productivity Solutions as part of the NIIT family. They bring deep expertise in pharmaceutical & life sciences segment. Its unique capability enables enterprises to successfully roll out applications and processes achieving over 90% adoption rates”, added Sapnesh Lalla, CEO, NIIT Ltd.
In this quarter, NIIT entered into a strategic partnership with UP! Your Service, the global leader in creating cultures of service excellence worldwide, to expand its Corporate Learning portfolio to deliver internal and external cultures of Service Excellence. Through this tie-up, NIIT aims to create a huge difference in the way organizations work to create value for their customers and colleagues.
Skills & Careers Group (SNC) recorded net revenue of Rs. 69.1 Cr during Q3 on an EBITDA of Rs 1.8 Cr.
Speaking on the occasion, Mr. Prakash Menon, President, Global Retail Business (GRB), said, “Strong operational control measures together with new age curriculum like training in Blockchain technology, helped drive momentum for the business”.
During the quarter, Training.com in association with IIM Calcutta, announced the second batch of the Advance Program in Data science. Since the launch of the platform in October 2016, Training.com has generated more than 9 million visitors. Training.com has built a portfolio of over 160 advanced courses including programs in Digital Marketing, Technology, Data Science and Applied Finance from premium institutions including IIM-C, Microsoft and Digital marketing institute.
MindChampion Learning Systems Limited (MLSL) registered net revenue of Rs. 9.2 Cr during the quarter. It signed 85 private school contracts in Q3, up 67% YoY.
Mr. Gavin Dabreo, CEO of MLSL said, “We continue to focus on delivering outcome linked products to our customers. This is helping us establish a connect with students and improving our relationship with stakeholders in schools”
Other highlights:
- NIIT held the Indian edition of its international customer conference – “NIIT Confluence”, for the first time in the country in Goa, from 1st – 3rd November 2017. Based on the theme "Re-imagining Learning. Transforming Business", NIIT Confluence attracted widespread participation from thought leaders and CHRO’s in the space of Learning & Development. Key speakers included HR heads and Sr. leadership from organisations like – Reliance Industries, Vodafone, Wipro, UST Global, ICICI, Bank of Baroda, Cognizant, Essar Oil, IOCL, among others.
- NIIT Named to Training Industry 2017 Top 20 IT Training Companies List.
- NIIT Accredited by Learning and Performance Institute for the Second Consecutive Year.
- NIIT Named to TrainingIndustry.com’s Top 20 Gamification Companies List.
About NIIT
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 across 40 nations, NIIT offers training and development solutions to Individuals, Enterprises and Institutions. NIIT has three main lines of business across the globe – Corporate Learning Group, Skills & Careers Group and School Learning Group.
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 Group (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, Soft Skills, Business Process Excellence, Retail Sales Enablement, Management Education, Multi-Sectoral Vocational Skills, Digital Media Marketing, and new-age IT. As NIIT's wholly owned subsidiary for its K-12 school learning initiative - MindChampion Learning Systems Limited (MLSL), provides futuristic NIIT nGuru range of learning solutions for schools comprising, interactive Classrooms with digital content, technology-driven Math Lab, IT Wizard programs and Quick School - an Education Resource Planning software. The Training.com learning platform is an NIIT initiative for advanced career programs, which are delivered live by industry experts in an immersive and interactive online mode, combining instructor-led classrooms with the convenience of accessing the training sessions from anywhere.
As the Most Trusted Training Brand in India for 5th year in a row (Brand Trust Report, 2017), 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 nine 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. NIIT has also been featured as the 'Most Respected Education Company'- 2016 by leading financial magazine, Business World. NIIT.tv – a disruptive innovation by NIIT, won the prestigious award for 'Educational Technology, at the Indo-American Education Summit 2016.