NIIT Limited announces Q1 consolidated results FY 2014-15
New Delhi, India, July 24, 2014: NIIT Limited, leading Global Talent Development Corporation, has reported its results for the first quarter ended June 30, 2014. In this quarter, the company recorded Net Revenue of Rs 225.3 Cr with a PAT of Rs 0.6 Cr. EBITDA was recorded at Rs 12.8 Cr, up 23% YoY, and the Operating margin stood at 6% up 101 bps YoY.
The results were taken on record at the meeting of the Board of Directors here today.
Corporate Learning Solutions (CLS) recorded net revenue of Rs 111.3 Cr up 32% YoY during the quarter, backed by a strong growth in its MTS offerings, which now contributes 86% towards CLS revenues. The overall CLS revenue visibility stood at USD 180.1 Mn, up 25% YoY.
Chief Executive Officer at NIIT Limited Vijay K Thadani said, “NIIT’s customized training solutions for corporates – MTS (Managed Training Services) – continued to gain strong acceptance by the industry, thereby resulting in a robust growth of 32 % YoY in our corporate training business.”
Career Building Solutions (CBS) recorded net revenue of Rs. 72.6 Cr during the Q1. Over 6,600 students were placed into jobs in Q1 alone.
‘ReVOLUTION GNIIT’, launched during the quarter, drove momentum for the company’s Cloud CampusTM offerings, registering around 2000 enrolments in Q1. This pioneering Cloud CampusTM initiative has now expanded across 217 centres with cumulative enrolments of over 73,500 students.
Commenting on the company’s performance, Chairman NIIT Limited Rajendra S Pawar said, “With the economy showing a promise of growth and the IT companies putting up a good performance, the market response for our new-age courses like ReVOLUTION GNIIT is expected to step-up further.”
NIIT forayed into the area of training teachers for the Central Teacher Eligibility Test (CTET), during the quarter. To this effect, the Company launched The CTET Advantage Program to support Pre-Service/ In-Service teachers to prepare for the forthcoming exams, thereby leading to enhanced employability.
The 15th IT Scholarship exams conducted by NIIT in Nigeria, drew participation from over 18,000 applicants, thereby giving meritorious students an opportunity to build successful careers in the IT sector. Further, NIIT consolidated its presence in Africa by signing up 3 new centres in Ivory Coast, Liberia & Sierra Leone.
During the quarter, NIIT further strengthened its ‘Beyond-IT’ portfolio of offerings, which registered a 31% YoY growth in enrolments.
School Learning Solutions (SLS) registered net revenue of Rs 39.4 Cr during the quarter, adding 129 Private Schools to its portfolio.
During the Quarter SLS trained 3,572 teachers and school principals on CCE (Continuous and Comprehensive Evaluation) and leadership development, as an empanelled member of CBSE (Central Board of Secondary Education). SLS also unveiled IT Wizard Plus in the states of Uttar Pradesh and Delhi NCR along with GM & NIIT MindChampion Viswanathan Anand.
Chief Operating Officer at NIIT Limited P Rajendran said, “NIIT continues to be a favoured partner in the school learning space, with the recent launch of pioneering products and solutions like IT Wizard Plus and Maths Lab Plus.”
NIIT’s vocational skills training initiative – NIIT Yuva Jyoti, established in partnership with National Skill Development Corporation (NSDC) continued to gain momentum, expanding its reach to over 70 locations with more than 25,000 students trained, since commencement.
Other highlights:
• NIIT has been recognized as the “Best Training Institution” at the Indian Education Awards 2014, by leading Industry Association – Franchise India.
• During the quarter Mr. Rajendra S Pawar, Chairman, NIIT Limited was recognized as the ‘Indian Business Leader of the Year’ at the Global India Business meet organized by international think-tank Horasis & PwC at Liverpool, UK.
• NIIT’s new corporate website www.niit.com was recognized as the “Best Educational Website” recently, at the Digital Marketing Conclave, 2014 by Think Media Inc.
