New Delhi [India] June 5 (ANI/BusinessWire India): NIIT Limited, a global leader in skills and talent development, today reported its results for FY20 and fourth quarter ending March 31, 2020.
For the full year, the company's net revenue stood at Rs 889.2 Cr, up 3 per cent YoY, EBITDA margin was recorded at 10 per cent and the Profit After Tax was Rs 1327.5 Cr.
During quarter 4, the company recorded net revenue of Rs 211.2 Cr, and a profit after tax of Rs 0.6 Cr. The board noted that despite rapid and decisive actions by management, to counter the unprecedented impact of the pandemic, the financial results remained muted for the quarter.
The board also noted the strong liquidity position of the company, and cash balance of Rs 1208.8 Cr at the end of the financial year.
The results for FY20 were taken on record at the meeting of the Board of Directors today. The board recommended a final dividend of Rs 2 per share (100 per cent of face value of Rs 2 per share). This follows an interim dividend of Rs 8 per share declared in February, 2020.
"Agile response and decisive strategic actions resulted in containment of adverse effect and yet enabled the organisation to leverage the massive digital learning opportunity, through NIIT Digital," said Vijay K Thadani, Vice ChairmanManaging Director, NIIT Limited.
Business Highlights:Corporate Learning Group (CLG) recorded revenues of Rs 175.4 Cr, up 10 per cent YoY during Q4. It signed five new MTS contracts in Q4, taking the total number of MTS customers to 54.
Full year revenue for CLG was recorded at Rs 691.3 Cr, up 9 per cent YoY on a constant currency. Revenue visibility stood at USD 263 million up 8 per cent YoY. CLG signed 14 new MTS contracts during the year.
During the quarter, in response to the COVID-19 pandemic, NIIT developed a set of actionable roadmaps, toolkits and packaged services to help Learning and Development (LD) organizations minimize the disruption caused due to the accelerating impact of the crisis.
It launched three new products - Digital Assessment Services, Virtual Selling Skills, and Rapid Portfolio Digitalization. These products are designed to help LD organizations take control and minimize disruption for the here and now and jumpstart digital transformation for a sustainable future.
In FY20, NIIT earned 37 coveted Brandon Hall Group HCM Excellence awards jointly with customers. The company was named a top winner for 2019.
"Since the latter part of Q4, the world has been facing an incredibly difficult situation due to the pandemic. I am proud of our teams, who worked round the clock to fully transform our offerings to the digital mode in a matter of days. With digital learning becoming central, the resourcefulness and flexibility exhibited by NIITians has enabled us to service the changing needs of our customers and learners in these uncertain times. During the year, Corporate Learning Group added 14 new MTS customers and the revenue visibility stood at USD 263 millio up 8 per cent YoY," said Sapnesh Lalla, CEO, NIIT Ltd.
"Our technology based offerings such as NIIT Digital and StackRoute, have performed well in the financial year and are geared to serve the requirements of customers in the Covid-19 impacted world," added Lalla.
SkillsCareers Business (SNC) recorded Q4 net revenue of Rs 35.8 Cr. For the full year, SNC recorded net revenue of Rs 197.9 Cr.
To ensure seamless delivery continuity during the period of high uncertainty, towards the end of quarter 4, SNC transitioned its customers to the NIIT Digital platform.
Through NIIT Digital, learners are able to access their learning plans and all associated content and services through an intuitive dashboard on connected desktops/ tabs/ smartphones.
They are able to attend Live instructor-led classes by some of the best NIIT instructors, view recorded sessions, take quizzes, and interact with their instructorspeers, in addition to a host of other features.
NIIT launched the 'Remote Work Excellence Kit' course to support India's fight against COVID-19. The online course has been made available absolutely free, to help facilitate remote working for adults.
StackRoute, launched 'Post Graduate Program in Full Stack Product Engineering' for fresh engineering graduates and young professionals. This is a remotely delivered virtual program, which transforms fresh engineering graduates into multi-skilled full stack product engineers, who are day one ready for live projects/product development.
During the quarter, SNC added two large customers including a leading private bank and a global auto company. StackRoute and TPaaS (Talent Pipeline as a Service) continued to demonstrate growth during FY19-20.
In the fiscal year, NIIT announced the FutureReadyTalent initiative and launched Future Fests, a pan-India connect program across 50 colleges in the country.
The initiative aimed towards encouraging aspiring professionals to enhance their knowledge and skills through NIIT's future ready programs.
NIIT collaborated with Automation Anywhere, a global leader in robotic process automation (RPA), to deliver comprehensive RPA workshops to developers, students and IT professionals across India.
Other highlights of FY20: NIIT bagged the ASSOCHAM Education Excellence Awards 2019 as the 'Best Innovative Brand' in the Education sector StackRoute won the 'Digital Transformation Learning Partner of the Year for Enterprises' award at Digital Transformation SummitAwards NIIT won seven 2019 Brandon Hall Excellence in Technology Gold awards jointly with MetLife for MetLife Distribution Academy NIIT earned the Learning Technologies 2019 Gold award for the Best use of social and collaborative learning technologies jointly with MetLife NIIT ranked among the Top 20 Training Outsourcing Companies by TrainingIndustry.com 2019 for the twelfth consecutive year NIIT named to 2019 Training Industry Top 20trade;Companies in Content Development List for the ninth consecutive year NIIT has been ranked among the 2019 Training Industry Top 20trade;IT Training Companies by TrainingIndustry.com 2019 NIIT was selected as a 2019 Top 20 Gamification Company for the sixth consecutive year by TrainingIndustry.com.
NIIT was accredited and listed among the Top 20 Highest-Performing Learning Providers 2019 by the Learning and Performance Institute, UK NIIT was identified as a "Leader" in NelsonHall's NEAT vendor evaluation for Learning BPS, 2019 NIIT held the 3rd India edition of its international customer conference - NIIT Confluence - in Goa from November 13-15, 2019 NIIT won the 'VocationalSkill Development Training Institute' award under Education Category at the 17th Franchise Awards 2019This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article (ANI/BusinessWire India)