Mon, 25 Sep 2023

BusinessWire IndiaNew Delhi [India], May 29: NIIT Ltd and NIIT Learning Systems Ltd (NLSL) announced annual results for FY23 today. This follows the strategic demerger announcement by NIIT, which has led to the establishment of two distinct entities--NIIT Ltd and NLSL. The Board of NIIT Limited had recently announced that its Corporate Learning Business undertaking has been transferred to NIIT Learning Systems Limited (NLSL) upon the Composite Scheme of Arrangement becoming effective as on May 24, 2023. Going forward, NIIT Limited will continue to focus on and operate the SkillsCareers business, whereas NLSL would operate the Corporate Learning Business.

Speaking on the company's performance, Rajendra S Pawar, Chairman and Co-Founder, NIIT Group said, "NIIT Group post the demerger, emerges as a stronger and more dynamic organization, unlocking growth and value for our customers, shareholders, and stakeholders. As talent builders for the nation, NIIT is poised to realize its true potential through the creation of two independently run businesses with significant growth capital." NIIT Ltd Annual Financial resultsNIIT acquired additional 20% equity shareholding in RPS Consulting during the year. This takes the total shareholding to 90%. (It may be noted NIIT had acquired 70% equity shareholding of RPS on October 1, 2021). The 6th edition of NIIT India Confluence, a 3-day exclusive, by-invitation only conference held in Goa saw representation from around 46 companies and 55 industry participants. Industry mavens, including CEOs, CHROs, and Business Leaders came together to deliberate on the conference's theme- 'Thrive: Accelerating growth in a 'broken' talent environment'.

Commenting on the results, Vijay K Thadani, Vice ChairmanManaging Director, NIIT Limited, said, "Our robust growth of 36% YoY in FY 22-23 underscores our unwavering dedication to growth and innovation in the skills and talent development sector. The strategic demerger of NIIT Limited into NIIT Ltd and NIIT Learning Systems Ltd (NLSL) marks a pivotal milestone, propelling our future growth trajectory."NIIT Learning Systems Limited (NLSL) Annual Financial resultsDuring the year the company acquired 100% membership interest in St. Charles Consulting Group LLC (StC) during. Headquartered in St. Charles, Illinois, StC is a leading provider of consulting, design, and implementation solutions for strategic learning programs to professional services firms and Fortune 500 companies. NLSL entered into a strategic partnership with EIT InnoEnergy Skills Institute. EIT InnoEnergy is the innovation engine for sustainable energy supported by the European Institute of InnovationTechnology, a body of the European Union (EU).

NLSL Confluence 2022 was held in Miami, Florida in September 2022 and hosted learning leaders from the world's leading Fortune 500 and Fortune Global 500 companies. The inaugural Customer Advisory Board meeting from leaders in 11 companies was also held prior to the conference. Commenting on the results, Sapnesh Lalla, CEO and Executive Director, NLSL., said, "Continued acceleration in new customer acquisition and wallet share expansion is a testament of the value we bring to our customers. The recently announced demerger will help us sharpen focus and increase investments in innovation and value creation."Awards and Acknowledgements- NLSL- NLSL earned 45 Brandon Hall Excellence in HCM Awards and 21 Brandon Hall Excellence in Technology Awards in 2022.

- NLSL Featured among the Top 20 Companies by Training Industry in Learning Services, Custom Content Development, IT and Technical Training, Advanced Learning Technologies, and Experiential Learning Companies in 2022.

- NLSL Ranked Number 1 in Innovation and Deal Size in the HRO Today Baker's Dozen for Learning and Development, 2022. Awards and Acknowledgements - NIIT Ltd.

- NIIT Ltd. was awarded the 'Transformational platform for professional learning in new-age technologies' at the Digital Leadership Conclave 2022 by Dataquest.

- NIIT Ltd has also been recognized as the "Institutions with excellent Training and Placements" award at the BW Education- Top Education Brand Awards 2022.

- NIIT Limited has been recognized as the Best E-Learning Platform by the Associated Chambers of CommerceIndustry of India (ASSOCHAM) for its contribution to the technology training sector.

- The Federation of Indian Chambers of CommerceIndustry (FICCI), felicitated Rajendra Singh Pawar, ChairmanFounder, NIIT with 'Lifetime Achievement Award 2022' at the 8th FICCI Higher Education Excellence Awards ceremony held in the capital on November 17, 2022.

- RPS Consulting upgraded to Premium Partnership in FY23 by ISACA based on their FY22 performance.

- RPS Consulting was awarded the "India Partner of the Year" by Vmware based on their FY22 Performance.

(Disclaimer: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)

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