Q4 FY24 Highlights
FY23-24 Highlights
|
Q4 FY24 |
FY24 |
|||
(In Rs. Mn) |
Quarter Ended
|
QoQ change* |
YoY change |
FY24 |
YoY change |
Net Revenue |
743 |
-13% |
24% |
3035 |
-11% |
EBITDA |
13 |
-83% |
+108 Mn |
48 |
364% |
Profit After Tax |
112 |
-22% |
+205 Mn |
384 |
1108% |
*Note: Q4 is a seasonally weak quarter for the business. Therefore, YoY changes are more appropriate for comparison
New Delhi, May 24, 2024: NIIT Limited (Ticker Symbol: NIITLTD), a leading skills & talent development corporation, announced the annual results for the Financial Year 2024, ending March 31, 2024.
During the quarter, the company recorded Net Revenue of Rs. 743 million, up 24% YoY. EBITDA was recorded at Rs. 13 million, up 114% YoY. Profit after Tax was Rs. 112 million, up 219% YoY.
During the financial year, the company recorded consolidated Net Revenue of Rs. 3035 million. EBITDA was Rs. 48 million, up 364% YoY. Profit After Tax was Rs. 384 million and the EPS stood at Rs. 2.85.
The Board recommended a final dividend of Rs. 0.75 per equity share. This is in addition to an interim dividend of Rs. 0.50 per equity share declared on October 31, 2023.
The results were taken on record at the meeting of the Board of Directors held on May 24, 2024.
In FY24, NIIT Ltd announced the integration of Generative AI in its existing Digital Marketing and Full Stack Software Engineering programs which is aimed at equipping learners with a competitive edge in today’s rapidly evolving job market thereby making them industry-ready.
Mr. Vijay K. Thadani, Vice Chairman and Managing Director, said, “The business has responded with agility to the IT hiring freeze with alternate growth strategies which resulted in getting back on the path of growth in Q4. We have received very encouraging response from our customers for adoption of GenAI in improving productivity. We are very excited about the opportunities emerging out of integrating GenAI towards outcome-based learning.”
In Q4, revenue from NIIT Ltd.’s early career segment grew 16% YoY, contributing 48% to the total revenue. The working professional segment grew 32% YoY contributing the balance 52%. Additionally, StackRoute and TPaaS experienced a year-over-year growth of 45%.
Mr. Rajendra S Pawar, Chairman and Co-Founder, NIIT Ltd said, “We remain committed to empowering individuals and building a future-ready workforce. The results showcase the impact of our tailored programs and strategic investments in areas like Generative AI and new-age skills. This empowers individuals at all career stages to thrive.”
In FY24, RPS Consulting, an NIIT subsidiary, made significant strides in the industry, being recognized as the “2024 Google Training Partner of the Year – Asia Pacific” for the second consecutive year. Additionally, RPS Consulting has been honored as the “Veeam Partner of the Year for APAC – 2023” and the “EC Council ATC of the Year – 2023”.
The 7th edition of the annual customer conference NIIT Confluence 2024, which has emerged as a pivotal event in the Learning and Development (L&D) landscape, was held in April’24. The event featured a diverse lineup of participants and speakers from prominent companies across various industries. With approximately 10 panel discussions, 5 fireside chats, and 3 keynote sessions over three days, the event provided a robust platform for dialogue and the exchange of ideas.
In a move to redefine education with personalized guidance, NIIT Digital conceptualized the idea of NIIT Learner Hub with a vision to bridge the gap in online learning, offering a human touch through face-to-face interaction. NIIT Learner Hub will empower students to explore interests, identify strengths, and build personalized roadmaps to success. This innovative space fosters meaningful conversations and unlocks opportunities, ensuring students thrive in the tech-driven world.
NIIT Ltd organized the third edition of the EdTech Growth Summit focusing on capacity building of the Ed-tech sector to help achieve profitable growth. The Summit featured keynote speeches, panel discussions, and fireside chats besides providing a unique platform for Ed-tech founders and start-ups to glean insights from industry experts and collaborate with educators, industry leaders, and tech innovators.
IFBI significantly expanded its offerings in FY24, launching a suite of solutions for diverse roles within the BFSI industry. These solutions include Branch Manager Certification, Digital Sales Coaching for sales professionals, Branch Operations Management programs, and an academy with a long-term learning journey for Relationship Managers. Additionally, programs focused on Bharat Banking, Rural Banking, and Corporate Salary catered to specific segments of the financial sector. Through strategic partnerships with leading banks, IFBI has successfully trained over 32,000 BFSI professionals.
StackRoute achieved significant growth in its Transformative Program series, partnering with five Global System Integrators (GSIs) and one Global Capability Centre (GCC) to upskill senior tech professionals like Architects, Program Managers, and Product Managers. Additionally, StackRoute expanded its offerings by launching Data Science programs for an Engineering GCC and a GSI, while also creating unique reskilling and deployment programs for software engineers at two GSIs.
Other Highlights
About NIIT Limited
NIIT Ltd. is a leading skills & talent development corporation, set up in 1981 to help the nascent IT industry overcome its human resource challenges. To meet the manpower challenges in BFSI sector, NIIT established Institute for Finance, Banking, and Insurance (IFBI), India's premier banking training institute in 2006. The company today ranks amongst the world's leading training organizations owing to its vast and comprehensive array of talent development programs.
NIIT Ltd. delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in futuristic domains through its various businesses including NIIT Digital, StackRoute, RPS Consulting, Institute of Finance Banking & Insurance (IFBI), TPaaS and Sales & Service Excellence (SSE).
For more information about NIIT visit: www.niit.com
For Media queries please contact
Abhishek Puri Division Lead, Corporate and Marketing Communications, NIIT Limited Ph: (Cell) + +91 9953300852 Email: abhishek.puri@niit.com
Anuradha Chawla Sr Account Director, AvianWE Ph: (Cell) +91 9899965560 Email: anuradha@avianwe.com |
Investors may contact:
Kapil Saurabh Head of Mergers and Acquisitions and IR, NIIT Limited Ph (Cell) +91 9899117793, (Dir) +91 124 4293324 Email: kapil.saurabh@niit.com
Visit us at: www.niit.com Follow us on: www.twitter.com/niitltd |
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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Executive Chairman
Rajendra Singh Pawar is the Executive Chairman and Co-Founder of NIIT Limited, a leading Global Talent Development Corporation, and founder of the NIIT University, established with a vision of being the role model of learning, research, innovation and sustainability for the Knowledge Society. He is also Non-executive Chairman of NIIT Learning Systems Limited.
Under his leadership, NIIT has played a key role in shaping the growth of the Indian IT sector, by creating skilled manpower to drive its momentum. Having revolutionized the IT Training industry, he is now involved in establishing an innovative model in Higher Education, the not-for-profit NIIT University.
Mr. Pawar is also member of Governing body of not-for-profit NIIT Foundation, which addresses the skilling and livelihood needs of youth from the underserved segments of the society.
Mr Pawar did his early schooling in Jammu. Then moved to The Scindia School, Gwalior and from there to IIT Delhi.
Mr Pawar's contributions have been widely acknowledged and he has been conferred prestigious awards:
Vice-Chairman & Managing Director
Rajendra Singh Pawar is the Executive Chairman and Co-Founder of NIIT Limited, a leading Global Talent Development Corporation, and founder of the NIIT University, established with a vision of being the role model of learning, research, innovation and sustainability for the Knowledge Society. He is also Non-executive Chairman of NIIT Learning Systems Limited.
Under his leadership, NIIT has played a key role in shaping the growth of the Indian IT sector, by creating skilled manpower to drive its momentum. Having revolutionized the IT Training industry, he is now involved in establishing an innovative model in Higher Education, the not-for-profit NIIT University.
Mr. Pawar is also member of Governing body of not-for-profit NIIT Foundation, which addresses the skilling and livelihood needs of youth from the underserved segments of the society.
Mr Pawar did his early schooling in Jammu. Then moved to The Scindia School, Gwalior and from there to IIT Delhi.
Mr Pawar's contributions have been widely acknowledged and he has been conferred prestigious awards:
Joint Managing Director
Rajendra Singh Pawar is the Executive Chairman and Co-Founder of NIIT Limited, a leading Global Talent Development Corporation, and founder of the NIIT University, established with a vision of being the role model of learning, research, innovation and sustainability for the Knowledge Society. He is also Non-executive Chairman of NIIT Learning Systems Limited.
Under his leadership, NIIT has played a key role in shaping the growth of the Indian IT sector, by creating skilled manpower to drive its momentum. Having revolutionized the IT Training industry, he is now involved in establishing an innovative model in Higher Education, the not-for-profit NIIT University.
Mr. Pawar is also member of Governing body of not-for-profit NIIT Foundation, which addresses the skilling and livelihood needs of youth from the underserved segments of the society.
Mr Pawar did his early schooling in Jammu. Then moved to The Scindia School, Gwalior and from there to IIT Delhi.
Mr Pawar's contributions have been widely acknowledged and he has been conferred prestigious awards:
Non-Executive Director
Rajendra Singh Pawar is the Executive Chairman and Co-Founder of NIIT Limited, a leading Global Talent Development Corporation, and founder of the NIIT University, established with a vision of being the role model of learning, research, innovation and sustainability for the Knowledge Society. He is also Non-executive Chairman of NIIT Learning Systems Limited.
Under his leadership, NIIT has played a key role in shaping the growth of the Indian IT sector, by creating skilled manpower to drive its momentum. Having revolutionized the IT Training industry, he is now involved in establishing an innovative model in Higher Education, the not-for-profit NIIT University.
Mr. Pawar is also member of Governing body of not-for-profit NIIT Foundation, which addresses the skilling and livelihood needs of youth from the underserved segments of the society.
Mr Pawar did his early schooling in Jammu. Then moved to The Scindia School, Gwalior and from there to IIT Delhi.
Mr Pawar's contributions have been widely acknowledged and he has been conferred prestigious awards:
Non-Executive Independent Director
Rajendra Singh Pawar is the Executive Chairman and Co-Founder of NIIT Limited, a leading Global Talent Development Corporation, and founder of the NIIT University, established with a vision of being the role model of learning, research, innovation and sustainability for the Knowledge Society. He is also Non-executive Chairman of NIIT Learning Systems Limited.
Under his leadership, NIIT has played a key role in shaping the growth of the Indian IT sector, by creating skilled manpower to drive its momentum. Having revolutionized the IT Training industry, he is now involved in establishing an innovative model in Higher Education, the not-for-profit NIIT University.
Mr. Pawar is also member of Governing body of not-for-profit NIIT Foundation, which addresses the skilling and livelihood needs of youth from the underserved segments of the society.
Mr Pawar did his early schooling in Jammu. Then moved to The Scindia School, Gwalior and from there to IIT Delhi.
Mr Pawar's contributions have been widely acknowledged and he has been conferred prestigious awards:
Non-Executive Non-Independent Director
Rajendra Singh Pawar is the Executive Chairman and Co-Founder of NIIT Limited, a leading Global Talent Development Corporation, and founder of the NIIT University, established with a vision of being the role model of learning, research, innovation and sustainability for the Knowledge Society. He is also Non-executive Chairman of NIIT Learning Systems Limited.
Under his leadership, NIIT has played a key role in shaping the growth of the Indian IT sector, by creating skilled manpower to drive its momentum. Having revolutionized the IT Training industry, he is now involved in establishing an innovative model in Higher Education, the not-for-profit NIIT University.
Mr. Pawar is also member of Governing body of not-for-profit NIIT Foundation, which addresses the skilling and livelihood needs of youth from the underserved segments of the society.
Mr Pawar did his early schooling in Jammu. Then moved to The Scindia School, Gwalior and from there to IIT Delhi.
Mr Pawar's contributions have been widely acknowledged and he has been conferred prestigious awards:
Non-Executive Independent Director
Rajendra Singh Pawar is the Executive Chairman and Co-Founder of NIIT Limited, a leading Global Talent Development Corporation, and founder of the NIIT University, established with a vision of being the role model of learning, research, innovation and sustainability for the Knowledge Society. He is also Non-executive Chairman of NIIT Learning Systems Limited.
Under his leadership, NIIT has played a key role in shaping the growth of the Indian IT sector, by creating skilled manpower to drive its momentum. Having revolutionized the IT Training industry, he is now involved in establishing an innovative model in Higher Education, the not-for-profit NIIT University.
Mr. Pawar is also member of Governing body of not-for-profit NIIT Foundation, which addresses the skilling and livelihood needs of youth from the underserved segments of the society.
Mr Pawar did his early schooling in Jammu. Then moved to The Scindia School, Gwalior and from there to IIT Delhi.
Mr Pawar's contributions have been widely acknowledged and he has been conferred prestigious awards:
StackRoute, an NIIT venture, is a digital transformation partner for corporates to build deep-skilled technology and digital talent at scale. Established in August 2015, StackRoute provides disruptive IT learning solutions on programming, quality-engineering, data-science and digital architecture.
Our immersive and remote programs are practitioner-led and outcome-oriented. Geared towards imparting deep skills in digital technologies, StackRoute works with multiple tier 1 IT companies, Global Captive Centers, product engineering companies, and GICs towards transforming their workforce to efficiently deliver digital transformation projects with ease.
StackRoute, an NIIT venture, is a digital transformation partner for corporates to build deep-skilled technology and digital talent at scale. Established in August 2015, StackRoute provides disruptive IT learning solutions on programming, quality-engineering, data-science and digital architecture.
Our immersive and remote programs are practitioner-led and outcome-oriented. Geared towards imparting deep skills in digital technologies, StackRoute works with multiple tier 1 IT companies, Global Captive Centers, product engineering companies, and GICs towards transforming their workforce to efficiently deliver digital transformation projects with ease.
StackRoute, an NIIT venture, is a digital transformation partner for corporates to build deep-skilled technology and digital talent at scale. Established in August 2015, StackRoute provides disruptive IT learning solutions on programming, quality-engineering, data-science and digital architecture.
Our immersive and remote programs are practitioner-led and outcome-oriented. Geared towards imparting deep skills in digital technologies, StackRoute works with multiple tier 1 IT companies, Global Captive Centers, product engineering companies, and GICs towards transforming their workforce to efficiently deliver digital transformation projects with ease.
StackRoute, an NIIT venture, is a digital transformation partner for corporates to build deep-skilled technology and digital talent at scale. Established in August 2015, StackRoute provides disruptive IT learning solutions on programming, quality-engineering, data-science and digital architecture.
Our immersive and remote programs are practitioner-led and outcome-oriented. Geared towards imparting deep skills in digital technologies, StackRoute works with multiple tier 1 IT companies, Global Captive Centers, product engineering companies, and GICs towards transforming their workforce to efficiently deliver digital transformation projects with ease.
StackRoute, an NIIT venture, is a digital transformation partner for corporates to build deep-skilled technology and digital talent at scale. Established in August 2015, StackRoute provides disruptive IT learning solutions on programming, quality-engineering, data-science and digital architecture.
Our immersive and remote programs are practitioner-led and outcome-oriented. Geared towards imparting deep skills in digital technologies, StackRoute works with multiple tier 1 IT companies, Global Captive Centers, product engineering companies, and GICs towards transforming their workforce to efficiently deliver digital transformation projects with ease.
StackRoute, an NIIT venture, is a digital transformation partner for corporates to build deep-skilled technology and digital talent at scale. Established in August 2015, StackRoute provides disruptive IT learning solutions on programming, quality-engineering, data-science and digital architecture.
Our immersive and remote programs are practitioner-led and outcome-oriented. Geared towards imparting deep skills in digital technologies, StackRoute works with multiple tier 1 IT companies, Global Captive Centers, product engineering companies, and GICs towards transforming their workforce to efficiently deliver digital transformation projects with ease.
StackRoute, an NIIT venture, is a digital transformation partner for corporates to build deep-skilled technology and digital talent at scale. Established in August 2015, StackRoute provides disruptive IT learning solutions on programming, quality-engineering, data-science and digital architecture.
Our immersive and remote programs are practitioner-led and outcome-oriented. Geared towards imparting deep skills in digital technologies, StackRoute works with multiple tier 1 IT companies, Global Captive Centers, product engineering companies, and GICs towards transforming their workforce to efficiently deliver digital transformation projects with ease.
StackRoute, an NIIT venture, is a digital transformation partner for corporates to build deep-skilled technology and digital talent at scale. Established in August 2015, StackRoute provides disruptive IT learning solutions on programming, quality-engineering, data-science and digital architecture.
Our immersive and remote programs are practitioner-led and outcome-oriented. Geared towards imparting deep skills in digital technologies, StackRoute works with multiple tier 1 IT companies, Global Captive Centers, product engineering companies, and GICs towards transforming their workforce to efficiently deliver digital transformation projects with ease.
StackRoute, an NIIT venture, is a digital transformation partner for corporates to build deep-skilled technology and digital talent at scale. Established in August 2015, StackRoute provides disruptive IT learning solutions on programming, quality-engineering, data-science and digital architecture.
Our immersive and remote programs are practitioner-led and outcome-oriented. Geared towards imparting deep skills in digital technologies, StackRoute works with multiple tier 1 IT companies, Global Captive Centers, product engineering companies, and GICs towards transforming their workforce to efficiently deliver digital transformation projects with ease.