NIIT Limited Announces Q1 FY23 (April-June 2022) Results

Business Wire India

• Q1 Revenue at Rs. 404.8 Cr, up 34% YoY, 8% QoQ
• EBITDA at Rs 74 Cr, up 5% YoY, with 18.3% EBITDA Margin
• Profit After Tax of Rs. 44.3 Cr; EPS at Rs 3.3
• Corporate Learning Group (CLG) revenue grows 18% YoY; Adds 4 MTS customers and records revenue visibility of $ 304 Mn
• Skills & Careers Group (SNC) revenue grows 145% YoY

 
 

NIIT Limited Consolidated Financials for Quarter ended June 30, 2022​
​(in Rs. Crore)	Quarter ended June 30, 2022	Quarter ended June 30, 2021	YoY change
Net Revenue	404.8	302.3	34%
EBITDA	74	70.7	5%
Profit After Tax	44.3	51.4	(14%)*

*Q1 PAT affected by Rs. 10.5 Cr reduction in treasury income YoY, led by mark-to-market impact on fixed income MF investments

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% YoY and 8% QoQ. EBITDA was Rs. 74 Cr, up 5% YoY and the EBITDA margin stood at 18.3%. 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 & 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% QoQ and 34% YoY.”

Corporate Learning Group (CLG) recorded net revenue of Rs. 312.5 Cr, up 18% YoY and 6% 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 stand at 68.
 
Skills & Careers Group (SNC) recorded net revenue of Rs. 92.3 Cr during Q1, up 145% YoY and 16% 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.