NIIT reports a whopping 51% yoy growth in Q3 revenue; Stock ends 6% up

28 Jan 2022 , 04:33 PM

NIIT Ltd. announced its results for the quarter ending December 2021 on Friday and reported 51% YoY in its revenue.  The company reported consolidated revenue of Rs 383.60 for Q3 FY’22 against Rs 253.40 for Q3 FY’21.

The company’s EBITDA stood at Rs 82.70 crore for the quarter ending December 2021, against Rs 47.10 for the previous corresponding quarter, reflecting a growth of 75% YoY. While its EBITDA margin improved by 295 basis points at 21.6% Q3 FY’22 against 18.6% YoY for Q3 FY’21.

The company reported a consolidated PAT of Rs 55 crore for the September-December quarter against Rs 41.5 crore for the same quarter the previous year, representing a growth of 32% YoY.

Further, the Board of Directors approved the Composite Scheme of Arrangement which would result in CLG Business and SNC Business being reorganized as separate publicly listed companies. The proposed scheme is subject to necessary statutory and regulatory approvals including the approval of the NCLT, SEBI, Stock Exchanges, shareholders, and creditors.

Commenting on the proposed reorganization, Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, “With talent emerging as the top priority for every organization globally, NIIT with its strong balance sheet and market-leading offerings, is uniquely positioned to take advantage of the current environment. Creating two independently run businesses with significant growth capital will propel both CLG and SNC to realize their true potential and create value for all stakeholders.”

NIIT Ltd is closed at Rs396 up by Rs21.55 or 5.76% from its previous closing of Rs374.45 on the BSE.