NIIT Q2 revenue at Rs 298 crore, up 10%

India Infoline News Service | Mumbai | October 19, 2016 14:47 IST

The company recorded EBITDA at Rs. 28.6 Cr up 13% YoY, on an Operating Margin of 10%, up 33 bps YoY. Net Debt reduced substantially to Rs. 91.7 Cr down 30% QoQ.

NIIT
NIIT Limited, a global leader in skills and talent development, today reported its results for the second quarter ending September 30, 2016.

In this quarter, the company recorded a Net Revenue of Rs. 298.4 Cr, up 10 % YoY; Operational PAT of Rs. 8.7 Cr, up 43% YoY; and PAT(including Associate Profit) of Rs. 21.6 Cr up 4% YoY. The Company recorded EBITDA at Rs. 28.6 Cr up 13% YoY, on an Operating Margin of 10%, up 33 bps YoY. Net Debt reduced substantially to Rs. 91.7 Cr down 30%  QoQ.

Speaking on the company's performance during the quarter, Rahul Patwardhan, Chief  Executive Officer, NIIT Limited said, "NIIT has demonstrated continued revenue growth for the 6th consecutive quarter on course to achieving a leadership role in the Digital Learning World. This comes on the back of a robust growth of 23% YoY this quarter in our Corporate Learning Business and a strong profit improvement in our Skills & Careers Business which recorded a 22% YoY growth in EBITDA. This quarter we also reduced net debt and made substantial improvement in working capital management".

In a significant development, towards driving digital transformation for tier 1 organizations in India, China and Emerging Markets, NIIT entered into an exclusive partnership with US based OpenMatters, LLC led by Barry Libert, renowned Digital Transformation Board Advisor. This initiative will enable the top leadership of top tier firms to become digital leaders who will drive digital transformation initiatives that lead to greater growth and value. In a related move, Barry Libert has been appointed as a Digital Advisor to the NIIT Board.

***Note: This is a NSE Chart

 

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