Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said: “Agile response and decisive strategic actions, resulted in containment of adverse effect and yet enabled the organisation to leverage the massive digital learning opportunity, through NIIT Digital.”
Other key highlights from the result were:
- FY20 PAT recorded at Rs1327.5cr including gains on the divestment of stake in NIIT Tech.
- FY20 Revenue at Rs889.2cr, up 3% yoy with EBITDA margin at 10%.
- Corporate Learning Group (CLG) grows 10% YoY during Q4.
- Adds 14 MTS (Managed Training Services) customers in FY20, taking the revenue to $263M.
- Accelerates transformation for the next stage of growth through ‘NIIT Digital”.
As of March 2020, NIIT has a cash balance of Rs1208.8cr indicating a strong liquidity position.
After the result announcement, NIIT stock price plunged by over 4% ending at Rs88.30 per piece on Sensex.