NIIT Q1 net revenue at Rs. 2.22bn

India Infoline News Service | Mumbai |

During the quarter, Corporate Learning Solutions (CLS) recorded net revenues of Rs. 84.4 Cr, up 16% YoY.

NIIT Limited, leading Global Talent Development Corporation and Asia’s largest IT trainer, reported its results for the first quarter ending June 30, 2013. In this quarter, the company recorded a Net Revenue of Rs. 222.2 Cr on an EBITDA of Rs 10.4 Cr, with an Operating Margin of 5%.The results were taken on record at the meeting of the Board of Directors here today.

During the quarter, Corporate Learning Solutions (CLS) recorded net revenues of Rs. 84.4 Cr, up 16% YoY. Order intake for CLS grew 26% YoY giving a revenue visibility of USD 144 Million. Three new international clients were added for Managed Training Services during Q1.

Vijay K Thadani, Chief Executive Officer, NIIT Limited said, “Corporate Learning Solutions recorded fresh order intake of USD 16.2 Mn, up 26% reflecting a strong customer confidence.”Career Building Solutions (CBS) recorded net revenue of Rs. 94.8 Cr during Q1.

During the quarter GNIIT series enrolments grew 9% YoY and Cumulative Cloud Campus enrolments crossed 33,000. With the long term growth story for the IT sector still holding, NIIT is gearing up for
developing talent that will be absorbed as this growth takes place – already visible in the excellent results posted by the IT companies during Q1.

Rajendra S Pawar, Chairman, NIIT Limited, said, “NIIT Cloud Campus is the cornerstone of our growth strategy.”

NIIT IFBI announced the launch of its 3rd National Banking Career Fair to benefit students aspiring to make a mark in India’s fast-evolving banking sector.

NIIT Imperia registered a growth of 29% YoY in enrolments during Q1, with its cutting-edge programs continuing to be in demand from working professionals.

School Learning Solutions (SLS) recorded net revenue of Rs. 42.4 Cr during the quarter, adding 125 Non Government schools to its portfolio.

Strengthening its focus on the Cloud, SLS launched school ERP and Classroom solution on Cloud delivery model during the quarter. NIIT also trained 3025 teachers and principals on CCE (Continuous and
Comprehensive Evaluation) and leadership training across 80 schools.

Commenting on the achievement, Mr. P Rajendran, Chief Operating Officer, NIIT Limited said, "Our core value & belief that NIIT is People, is reflected through our people-centric policies, which fosters career building by creating opportunities that facilitate learning, thinking and innovation.” NIIT’s vocational skills training initiative - NIIT Yuva Jyoti, established in partnership with National Skill Development Corporation (NSDC) continued to gain momentum with new centre locations added during Q1, taking the total number of centres locations to 40, with enrolments from over 5600 students.

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