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Published on: October 25, 2007

NIIT Limited Q2 (July-Sept 2007) Consolidated Results 2007-08

  • Net Revenues at Rs. 270.2 Cr; grow 33% YoY
  • PAT at Rs. 21.1 Cr; up 31% YoY
  • Individual Learning Solutions grew 31% YoY
  • New businesses achieve operating break-even.

           

            

              

           

 

Qtr ended
Sept 30,‘06

Qtr ended
Sept 30,‘07

Growth
YoY

Systemwide Revenue

 321.3
 

398.6

 24%

Net Revenue

 203.1
  

270.2

33%

Operating Profit

 23.8
  
 

35.8

50%

Profit After Tax

 16.1
  

21.1

31%

New Delhi, October 25, 2007: For the second quarter ending September 30, 2007, NIIT, Asia’s No.1 trainer and leading Global Talent Development Corporation, has posted net revenues of Rs. 270.2 crore, representing a 33% increase YoY. Company’s Systemwide revenues stood at Rs. 398.6 crore, up 24% YoY.

The company posted an Operating Profit (EBITDA) of Rs. 35.8 Cr, representing a 50% growth as compared to Rs. 23.8 Cr in the corresponding quarter last year.

NIIT Limited and its subsidiaries recorded a consolidated profit after tax of Rs. 21.1 crore, a growth of 31% over the same period last year. 

Commenting on the company’s performance, NIIT Chairman Mr. Rajendra S. Pawar said, “NIIT’s 33% revenue growth is a result of our Global Talent Development initiative across multiple sectors—IT, Banking, Executive Management Education.”

The results were taken on record at the meeting of the Board of Directors of NIIT Limited here today.

The company’s Individual Learning Solutions recorded a 31% growth in net revenue in Q2, over the same period last year, with Career segment revenues growing at 37%.

Continuing with the focus of building talent for the high growth IT infrastructure management space, NIIT extended the new Network & Infrastructure Management curriculum to over 176 centres across the country.

NIIT enhanced its global training network by entering into strategic alliances in China, Malaysia and Vietnam. Through its alliance with the ChongQing Information Industry Bureau (CQIIB), NIIT will offer its programs in Universities and Colleges in ChongQing. NIIT partnered with the Ministry of Human Resources, Malaysia to implement its ‘NIIT Inside’ model.

According to Mr. Vijay K. Thadani, Chief Executive Officer, NIIT Limited, “NIIT’s operating profit grew by 50% YoY, led by strong enrollment growth and improved capacity utilization.”

New Businesses

NIIT’s new businesses—NIIT Imperia and Institute of Finance, Banking & Insurance (IFBI)—extended reach and portfolio to harness talent for sectors beyond IT. During the quarter, NIIT added four new centres in Tier II cities. With this expansion, the new businesses have been extended to 14 centres across 11 cities.

NIIT Imperia partnered with Institute of Management Technology (IMT), Ghaziabad to offer long and short duration programs in management. 

IFBI partnered with HDFC Bank for the Banking program and with ICICI Securities for the Financial Planning program. IFBI has commenced insurance training in partnership with ICICI Prudential.

Closing Order Book at Rs. 541 Cr

Fresh Systemwide order intake during the quarter was Rs. 435 Cr. The pending order book as on September 30, 2007 stood at Rs. 541 Cr.

Mr. P. Rajendran, COO, NIIT said, “Successful integration of ElementK, USA, resulted in 34% revenue growth in corporate learning solutions.”

Corporate Learning Solutions added 10 customers across USA, Europe and India in this period.

Other highlights of Q2 2007:

  •  NIIT’s innovative solution based on its unique ‘Critical Mistake Analysis (CMA)’ methodology has enabled, US based Allstate Insurance Company to receive the coveted ‘Innovation Award’ instituted by Society of Insurance, Trainers and Educators (SITE).
  •  The NIIT Education Society set up first-of-its-kind Model District Learning Center at Chhindwara. NIIT has also set up several Minimally Invasive Education (MIE) Playground Learning Centers (PLCs) in different villages of Chhindwara to promote computer education among school children in the district.
  • NIIT has bagged the ‘Best Learning Solutions Partner Award’ and ‘Best School Solutions Partner Award’ from global technology giant, Microsoft.
  • NIIT MindChampion Viswanathan Anand was recently crowned the World Chess Champion in Mexico. With this win, Viswanathan Anand is the World No. 1 and World Champion.

NIIT, Asia’s No. 1 trainer and leading Global Talent Development Corporation, offers learning and knowledge solutions to 5 million students across 32 countries.

Leading IT magazine Dataquest has conferred upon NIIT, the Top IT Training Company Award 2006. Rated among India’s Superbrands (2003-05), NIIT’s Individual Learning Business offerings include: Industry-endorsed programs for students seeking careers in IT: GNIIT, Integrated ANIIT for Engineers (IAE) and Advanced Technology Programs for IT professionals.

For working professionals, NIIT Imperia, Centre for Advanced Learning, offers Executive Management Education Programmes in association with Indian Institutes of Management (IIMs) at Ahmedabad, Indore and Kolkata.

NIIT Institute of Finance Banking & Insurance (IFBI),formed with equity participation from ICICI Bank, offers programs to develop talent for the banking industry.

NIIT offers turnkey IT integration program for schools. NIIT has provided computer-based learning to over 5000 government and private schools.

NIIT’s Corporate Learning Solutions, offers integrated learning solutions (including strategic consulting, learning design, content development, delivery, technology, assessment and learning management) to Fortune 500 companies, Universities, Technology companies, Training corporations and Publishing houses.

Element K delivers learning solutions for customers and partners through a tailored combination of catalog learning products, technology, and services. The offerings include: vLab®: hands-on labs, instructor-led courseware, comprehensive e-reference libraries, technical journals, and KnowledgeHub™: hosted learning management platform.

NIIT together with Element K is now the first and the best choice for comprehensive learning solutions, worldwide.

Prateek Chatterjee, NIIT Limited, Ph: +91 9910201085, +124 4293041;
Email: prateek.chatterjee@niit.com or
Shivanjali Singh, NIIT Limited, Ph: +91 9811991107; +124 4293044;
Email: shivanjali.singh@niit.com or Visit www.niit.com Or
Investors may contact:
Kapil Saurabh, NIIT Ltd, Ph: +91 124 4293000; Fax: +91 124 4293333;
Email: kapil.saurabh@niit.com

About NIIT

NIIT is a leading Global Talent Development Corporation that is building a manpower pool for global industry requirements. The company, which was set up in 1981 to help the nascent IT industry overcome its human resource challenges, today ranks among the world’s leading training companies owing to its vast, yet comprehensive array of talent development programs. With a footprint across 30 nations, NIIT offers training and development solutions to Individuals, Enterprises and Institutions.

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