Wed, 27 Sep 2023

NIIT Limited announces Q1 FY23 (April-June 2022) results

28 Jul 2022, 23:15 GMT+10

New Delhi [India], July 28 (ANI/BusinessWire India): NIIT Limited (NSE: NIITLTD), a leading global talent development corporation, today reported the results for its first quarter ending June 30, 2022. During the quarter, the company recorded Net Revenue of Rs 404.8 Cr, up 34 per cent YoY and 8 per cent QoQ. EBITDA was Rs 74 Cr, up 5 per cent YoY and the EBITDA margin stood at 18.3 per cent. Profit After Tax was recorded at Rs 44.3 Cr. EPS stood at Rs 3.3.

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

Commenting on the results, Vijay K Thadani, Vice Chairman and Managing Director, NIIT Limited said, "In face of increasing global uncertainty and rapid macro-economic changes, NIIT continued its growth momentum resulting in a strong revenue growth of 8 per cent QoQ and 34 per cent YoY."

Corporate Learning Group (CLG) recorded net revenue of Rs 312.5 Cr, up 18 per cent YoY and 6 per cent QoQ. CLG added 4 new MTS customer contracts as well as one contract expansion and one contract renewal during the quarter. The revenue visibility for CLG, at the end of the quarter was at USD 304 million. The total number of MTS customers stands at 68.

Skills and Careers Group (SNC) recorded net revenue of Rs 92.3 Cr during Q1, up 145 per cent YoY and 16 per cent QoQ.

The quarter saw NIIT strengthening its association with Salesforce as its Authorized Training Partner by offering programs on Salesforce to fresh graduates and working professionals, to build a pan-India talent pool of Salesforce Certified Professionals.

During the quarter, NIIT Digital expanded its reach and launched New Age Dual Qualification programs for college students. These programs are designed to equip college students with multidisciplinary new-age skills, giving them the edge, they need early on for a successful corporate career.

NIIT'S subsidiary, NIIT Institute of Finance, Banking and Insurance (NIIT IFBI) entered into partnerships with HDFC Bank and Kotak Mahindra Bank to build new age Digital Talent in fintech and data engineering roles for the banking industry. It also joined hands with Bajaj Finserv to scale up the reach of Bajaj Finserv's Certificate Program in Banking, Finance, and Insurance (CPBFI).

Commenting on the quarter, Sapnesh Lalla, CEO and Executive Director, NIIT Ltd. said, "Talent remains a top priority for CEOs globally and NIIT continues to enjoy a preeminent position as a preferred partner for talent transformation for some of the largest corporations in the world, resulting in sustained growth momentum in both the businesses."

Other highlights:

- Over the last one year, leading Global Capability Centres (GCCs) have partnered with StackRoute, an NIIT initiative, for building high-quality workforce across technology, digital, data, and related roles.

- NIIT Digital was recognized as the 'Transformational platform for professional learning in new-age technologies' by India's leading IT magazine, Dataquest. NIIT won this award under the education category at the 29th edition of the Digital Leadership Conclave 2022 held by the publication.

- NIIT was named as Top 20 Learning Services company by Training Industry, Inc. This is the 15th consecutive year of being featured as a leader in learning services and training outsourcing.

- NIIT Ranked among the Top 20 Custom Content Development Companies list for the twelfth consecutive year by Training Industry, Inc.

This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)

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