NIIT Q4 net profit at Rs27mn

During the quarter, the company’s Net Revenue stood at Rs. 221.6 Cr and the PAT was recorded at Rs. 2.7 Cr. The EBITDA was at Rs. 7.1 Cr for Q4.

May 23, 2013 5:08 IST | India Infoline News Service

NIIT Limited, leading Global Talent Development Corporation and Asia’s largest IT trainer, today reported its results for the fourth quarter ending March 31, 2013. The company recorded PAT for the year at Rs. 26.3 Cr on annual net revenue of Rs. 960.8 Cr. During the quarter, the company’s Net Revenue stood at Rs. 221.6 Cr and the PAT was recorded at Rs. 2.7 Cr. The EBITDA was at Rs. 7.1 Cr for Q4.

The results were taken on record at the meeting of the Board of Directors here today. The Board also proposed a dividend of 80%.

During the financial year 2012-13, NIIT reinforced its vision to usher in a new way of learning by taking its pioneering Cloud based offerings across its four platforms of growth – Managed Training Services, NIIT Nguru, NIIT Yuva Jyoti and Cloud Campus. Through this initiative, NIIT is redefining the education landscape by making available new-age skills to students and learners across geographies. The extended range of training offerings in IT, Banking, Global Finance, Management, Digital & Social Media Marketing under Cloud CampusTM is aimed at transforming learners into first-day first-hour industry-ready professionals.

Commenting on the company’s strategic vision, Rajendra S Pawar, Chairman, NIIT Limited said, “NIIT Cloud Campus redefines education”.

In a significant development during the year, NIIT entered into a strategic alliance with Microsoft to create newly-skilled 1,00,000 Microsoft certified Cloud-ready professionals over the next 3 years.

Career Building Solutions (CBS) recorded net revenue of Rs. 98.1 Cr during the quarter, backed by a growth of 48% in enrolments into Banking courses. Cumulative Cloud Campus enrolments crossed 27,000 in Q4.

During the year, NIIT partnered with Digital Marketing Institute (Ireland) to offer globally renowned digital marketing programs to its students in India. NIIT further introduced training programs for additional domains like Applied Financial Management and Online Marketing, over the year. 

NIIT strengthened its IT training portfolio during the quarter, by entering into a MoU with NASSCOM to enhance skill development of graduates through in-campus training initiative, across colleges in the country.
NIIT graduates’ job-readiness and acceptance by the industry continued to be favourable with over 10,000 students getting placed during Q4, despite a slowdown in hiring by the sector. 
During the quarter, NIIT conducted country’s largest IT Aptitude Test— the 9th National IT Aptitude Test (NITAT) — to enable students and graduates to ascertain their aptitude for the IT industry. NITAT 2013 saw a record participation, with over 1,52,000 aspirants across 300 cities testing their IT aptitude.

NIIT Institute of Finance and Banking recorded a growth of 17% YoY during the quarter, backed by new client wins including Bank of Baroda.

During Q4 NIIT Imperia received the “Best Telecom & Satellite Learning Providers in Education”  award at the National Education Excellence Awards 2013 instituted by leading industry body ASSOCHAM, (Associated Chambers of Commerce and Industry of India).

Corporate Learning Solutions (CLS) recorded net revenues of Rs. 76.1 Cr, up 15% YoY during Q4.

Mr Vijay K Thadani, Chief Executive Officer, NIIT Limited said “Increased industry adoption of our growth platform – Managed Training Services - drove the robust order intake of Rs 77.8 Cr in Q4 for the CLS business, up 21% YoY.”

During the quarter, NIIT completed the intensive training programs for the second batch of Tax Return Preparers for Department of Income Tax in which 3685 candidates were trained and certified.

School Learning Solutions (SLS) registered net revenue of Rs. 47 Cr during the quarter. 

NIIT’s Cloud initiative received further industry recognition, with the Cloud enabled NIIT NGuru – ICR@Home, being felicitated at the World Education Summit 2013, for best “Use of Assistive Technologies in Education”.

Mr P Rajendran, Chief Operating Officer, NIIT Ltd said:  “Initiation of NGuru solutions in 817 additional non-government schools during FY13 (growth of 19% YoY), has further demonstrated the increasing appreciation and demand for our cutting-edge school learning solutions in the teaching-learning ecosystem.”

During Q4, NIIT was selected and empanelled by Central Board of Secondary Education (CBSE), as part of its initiative to organize Leadership Training for principals of over 13,500 schools in the country.
NIIT’s vocational skills training initiative - NIIT Yuva Jyoti, established in partnership with National Skill Development Corporation (NSDC) continued to gain momentum with new centres added during Q4, taking the total number of centres to 34, with enrolments exceeding 4,800 since commencement.

NIIT MindChampions Academy (MCA) - a joint initiative by NIIT and World Chess Champion Viswanathan Anand completed 10 years of developing young minds through the game of chess. During the financial year 2012-13, NIIT MindChampions Academy (MCA) - crossed an important milestone, by impacting over 1.65 million children across 17,000 schools since inception.

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