NIIT records net revenue at Rs 262.4 Cr

The pending order book was USD 53.1 Mn, 69% of which is executable over the next 12 months.

October 18, 2013 1:44 IST | India Infoline News Service

NIIT Limited, leading Global Talent Development Corporation and Asia’s largest IT trainer, today reported its results for the second quarter ending September 30, 2013. In this quarter, the company recorded Net Revenue of Rs. 262.4 Cr and PAT of Rs. 12 Cr.

The results were taken on record at the meeting of the Board of Directors.

During the quarter, Corporate Learning Solutions (CLS) recorded net revenues of Rs. 99.3 Cr, up 32% YoY. The pending order book was USD 53.1 Mn, 69% of which is executable over the next 12 months.

Reflecting a strong global acceptance of its Corporate Training offerings - led by Managed Training Services - NIIT received the most prestigious recognition in the learning and development industry: The Brandon Hall Awards in USA, this quarter. NIIT won the Brandon Hall Excellence Gold Award in the “Best Training Program for the Extended Enterprise” category, jointly with Allstate. It was also awarded the Brandon Hall Excellence in Learning 2013 Silver Award in the “Best Custom Content” category, jointly with Shell.

Mr Vijay K Thadani, Chief Executive Officer, NIIT Limited said “Our focus on Managed Training Services as one of the four growth platforms, enabled Corporate Learning Business to achieve a growth of 32%, signalling a strong enterprise demand for the offering.”

Career Building Solutions (CBS) recorded net revenue of Rs. 126.9 Cr backed by Cloud-enabled program enrolments of over 13,800. The pioneering Cloud campus initiative has now expanded to cover 78 courses and 209 centres with a cumulative enrolment of over 47,000 students.

CBS launched new products during the quarter including Mobile Apps, Program on Global Finance and Accounting, and Diploma in Corporate Accounting and Applied Finance.

In Q2, NIIT entered into a partnership with Autodesk to introduce training programs in Design as a learning discipline in India. The objective of the program is to promote design literacy, design skilling and research & innovation in design.

During the quarter, NIIT announced India’s most significant IT Scholarship program - ‘22nd Bhavishya Jyoti Scholarship’, to reward meritorious students desirous of building successful careers in diverse industries that require Information Technology skills. Bhavishya Jyoti Scholarship is NIIT’s initiative to enhance employability of meritorious students and make them job-ready to meet the industry needs.

NIIT Institute of Finance, Banking & Insurance Training Ltd. (IFBI) completed 7 years of successful operations in Q2. During these 7 years, IFBI reached its leadership position in the industry, having trained over 1,00,000 banking professionals for the Banking sector and placed over 25,000 graduates.

During the quarter IFBI placed 3,312 students, up 188% YoY. Fresh enrolments grew by 15% YoY. IFBI organized the 3rd National Banking Career Fair to benefit students aspiring to make a mark in India’s fast-evolving banking sector.

According to Mr Rajendra S Pawar, Chairman, NIIT Limited, “NIIT’s portfolio of offerings beyond IT is now taking shape with the Banking domain showing a healthy growth with a surge in placements”.
Management training enrolments at NIIT Imperia grew 18% YoY in Q2

School Learning Solutions (SLS) recorded net revenue of Rs. 35.8 Cr during the quarter.
The recently launched Quick School Cloud – NIIT’s Cloud based ERP solutions for schools witnessed widespread interest with 28 schools commissioning this service, spanning 33,000 students in its pilot phase. NIIT also trained 3040 teachers and school principals on CCE (Continuous and Comprehensive Evaluation) and leadership training across the country, as an empanelled member of CBSE (Central Board of Secondary Education).

Commenting on NIIT’s emphasis of providing computer education in private schools, P Rajendran, Chief Operating Officer, NIIT Limited said, “The Nguru platform, together with cloud adaptation is receiving serious market attention as it offers distinctive advantage to schools – both in educational content and for school resource management”.`

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 Q2, taking the total number of centres locations to 43, with over 10,600 enrolments.

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