New Delhi, India, January 16, 2015: NIIT Limited, a player in Skills and Talent Development, today reported its results for the third quarter ending December 31, 2014. In this quarter, the company recorded Net Revenue of Rs. 248.2 Cr, up 6% YoY with a PAT of Rs 1.8 Cr.EBITDA for the quarter was recorded at Rs. 5.7 Cr.
The results were taken on record at the meeting of the Board of Directors here today.
Corporate Learning Solutions (CLS) which offers Managed Training Services (MTS) to market-leading companies in North America, Europe, Asia, and Oceania, recorded net revenues of Rs. 136 Cr during the quarter, up 28% over same period of the previous year. It added three new contracts and one new customer in Q3, taking the Pending Order book for CLS to $ 64.5 Mn.
Mr Vijay K Thadani, Chief Executive Officer, NIIT Limited said, “A strong focus on improving liquidity and conservation of capital, contributed towards strengthening of the balance sheet during the quarter”.
Speaking on the occasion, Mr. Rahul K Patwardhan, CEO Designate, NIIT Limited said, “The 6% YoY revenue growth during the quarter, was driven by a robust 28% YoY growth in Corporate Learning Solutions.”
“Our Business Transformation Program is progressing on schedule to streamline and realign the organisation towards business growth and improved profitability”, added Mr. Patwardhan.
Individual Learning Solutions (ILS) recorded net revenue of Rs. 76.9 Cr during the quarter.
During the quarter, NIIT continued to roll-out industry-aligned programs in partnership with leading organisations like – eBay, IEEE & Microsoft.
With the view to increase employability, bridge the skills divide and create opportunities for entrepreneurs to tap into the growing ecommerce market, NIIT announced an industry first ecommerce certification programme in collaboration with eBay India, in this quarter.
NIIT and IEEE (Institute of Electrical and Electronics Engineers) entered into a global alliance to provide training based on the Software Engineering Body of Knowledge (SWEBOK) to create certified engineers to meet the industry’s requirement for job-ready talent. During the quarter, NIIT also tied up with Microsoft to roll-out its significant ‘Women in Tech’ initiative across 5,000 Schools, Colleges, and Centres in 200 cities.
Further strengthening its China operations, NIIT recently entered into a Memorandum of Understanding (MoU) with Guian New Area, the capital city of Guizhou province, China, to offer programs in IT with special focus on Big Data.
School Learning Solutions (SLS) registered net revenue of Rs. 31.4 Cr during the quarter.
NIIT unveiled MathLab Impact Study conducted by one of the top four research agencies across 11 States in India, which revealed that students using NIIT MathLab performed distinctly better in Math than students not using MathLab. NIIT extended its presence in Hyderabad, Bangalore and Tiruchengode with the launch of the cutting-edge ‘MathLab Plus’ in these cities.
During the quarter, NIIT showcased its state-of-the-art technology-based School Learning Solutions at the 28th Guwahati Book Fair and Literary Festival, 2014 held in Assam.
Mr P Rajendran, Executive Director, NIIT Limited said, “The MathLab Impact Study clearly shows a definitive impact of MathLab on Math performance across schools in India. We are confident that this finding will encourage more schools to adopt MathLab and other ICT enabled solutions offered by NIIT.”
NIIT Yuva Jyoti, established in partnership with National Skill Development Corporation (NSDC), continued to gain momentum, expanding its reach to over 75 locations with more than 34,500 students trained, since commencement.