NIIT Limited Announces Q1 Consolidated Results
NIIT Limited (NSE: NIITLTD), a global skills & talent development company and leading provider of managed training services, reported its results for the first quarter ending June 30, 2021.
Consolidated Financials for Quarter ended June 30, 2021
(in Rs. Crore)
June 30, 2021
June 30, 2020
Profit After Tax
During the Quarter, the company recorded a Net Revenue of Rs. 301 Cr, up 49 per cent YoY and Profit After Tax of Rs. 51.4 Cr, up 78 per cent YoY. EBITDA was recorded at Rs. 72.1 Cr, up 196 per cent YoY and EBITDA margin was recorded at 24 per cent, up 1188 bps. EPS stood at Rs. 3.8.
The company completed the buyback of 98.75 Lac equity shares at a price of Rs. 240/- per Equity Share in May 2021. The shares purchased under the buyback have been extinguished. At the end of the quarter, post the buyback the outstanding shares stood at 132.82 million.
The results were taken on record at the meeting of the Board of Directors held today.
Corporate Learning Group (CLG) recorded revenues of Rs. 263.3 Cr, up 47 per cent YoY during Q1.
During the quarter, CLG signed 3 new MTS contracts and expanded the scope of work with 2 existing customers. The total number of MTS customers stand at 59 with overall revenue visibility of $298 Million.
CLG won three new MTS contracts in the life sciences and healthcare segment and expanded its relationship with two global technology majors.
Skills & Careers Group (SNC) recorded net revenue of Rs. 37.8 Cr, up 62% YoY during Q1. SNC has successfully transitioned its customers to the NIIT Digital platform and through this, learners are able to access their learning plans and all associated content and services digitally.
During the quarter NIIT, Digital launched programs in Cloud Computing & Cybersecurity to meet the demand for job roles in the digital sector. NIIT Digital also announced the launch of the Data Science Foundation Program and Advanced Post Graduate Program (PGP) in Data Science and Machine Learning, to create Day 1 industry-ready Certified Data Science professional.
NIIT entered into a partnership with Sushant University, one of the leading education institutions situated in Gurugram, to offer their upcoming batches of Bachelors in Computer Applications (BCA) and Bachelors in Technology (B Tech) in Computer Science, specializations in Banking & Finance, and StackRoute – Full-Stack Product engineering respectively.
For the quarter NIIT Institute of Finance Banking and Insurance (NIIT IFBI) and Axis Bank launched a FinTech Professional Programme under the Axis Bank - NIIT Digital Banking Academy. The course is designed to build future-ready FinTech Professionals for Axis Bank.
A leading global retailer signed up with StackRoute, an NIIT venture, for building data science capabilities for its analytics team based in India. A large global IT services organization also signed up with StackRoute to build capabilities on the hybrid cloud across application development and infrastructure management.
- NIIT won the ‘Best Skill Learning Company’ award at the 11th Annual EdTech X Indian Education Awards 2021.
- NIIT was ranked number two amongst all learning providers on the HRO Today’s Baker's Dozen Customer Satisfaction Ratings™ for Learning and Development in 2021.
- NIIT was featured on the Training Industry, Inc. Top 20 Companies List for Training Outsourcing for the fourteenth consecutive year.
- NIIT was ranked among the Top 20 Companies in Content Development by Training Industry. Inc. for the eleventh consecutive year.
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