Mon, 30 Nov 2020

NIIT Limited Announces Q2 Consolidated Results

ANI
31 Oct 2020, 00:03 GMT+10

New Delhi [India], Oct 30 (ANI/BusinessWire India): NIIT Limited (NSE: NIITLTD), a global leader in skills and talent development, today reported its results for the second quarter ending September 30, 2020.

During the quarter, the company recorded Net Revenue of Rs 218.9 crore EBITDA was Rs 34.4 crore up 18 per cent YoY and the EBITDA margin stood at 16 per cent, up 322 bps YoY. Profit After Tax was recorded at Rs 26 crore, reflecting an EPS of Rs 1.84 per share. The results were taken on record at the meeting of the Board of Directors held today.

Revenue recorded at Rs 218.9 crore, up 8 per cent QoQ EBITDA at Rs 34.4 crore, up 41 per cent QoQ; EBITDA Margin at 16 per cent up 367 bps QoQCorporate Learning Group (CLG) records revenue growth of 9 per cent QoQ and EBITDA margin of 20 per centCLG signed up 2 new MTS Customers, 2 contract expansions and 2 renewalsCLG ends the quarter with 56 MTS customers and revenue visibility at USD 259 million"The organisation demonstrated tremendous resilience to strengthen its market position and improve operational efficiency, while accelerating the pace of Digital Transformation in all aspects of the business," said Vijay K Thadani, Vice Chairman and Managing Director, NIIT Limited, while speaking on the company's performance during the quarter.

The organisation transitioned learning delivery to NIIT Digital, moved to seamless work-from-home to ensure continuity and launched new offerings catering to the evolving requirements of its customers and learners.

During the quarter Rajendra S Pawar, Chairman and Co-Founder, NIIT Group and Founder, NIIT University was felicitated with the 'Lifetime Achievement Award' at Dataquest ICT Awards 2019. The award was presented during a Special Webinar on '40 Years of ICT Industry and the Next 10 Years'. Corporate Learning Group (CLG) recorded net revenue of Rs 194.1 crore, up 9 per cent QoQ and 12 per cent YoY. CLG added two new managed training services customers (one customer in the Telecom sector and another in the FMCG sector) and expanded its relationship with two existing clients while renewing contracts with two additional customers. The number of MTS customer tally stands at 56 and Revenue Visibility at the end of the quarter was at USD 259 million.

NIIT earned 30 coveted Brandon Hall Group HCM Excellence awards jointly with customers, during the quarter. The awards include prestigious honors for its Eagle Productivity Solutions and StackRoute divisions.

"The Corporate Learning Group (CLG) continues to see momentum in attracting new customers and retaining and expanding existing relationships. In the first half of the year CLG added 5 new MTS logos, and has strong revenue visibility of USD 259 million. Our customers see NIIT as a partner who can help them become an Adaptive Learning Organization so that they can respond to fast changing business needs," said Sapnesh Lalla, CEO, NIIT Ltd. , while commenting on the quarter performance.

Skills and Careers Group (SNC) recorded net revenue of Rs 24.7 crore during Q2. The India business is starting to see recovery driven by StackRoute and TPaaS (Talent Pipeline as a Service) which grew 77 per cent QoQ. SNC has transitioned its customers to the NIIT Digital platform.

StackRoute announced the launch of new line of programs in Data Engineering. Titled, 'Enterprise Big Data Engineering and Machine Learning using Spark' and 'Enterprise Big Data Engineering using Databricks and Delta Lakes' - these programs help enterprises to equip their workforce having prior experience in data projects, with steps and tools for designing and solving business challenges that fall in the category of Data Analysis and Big Data.

This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)

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