NIIT Limited announces Q1 (April – June 2015) Consolidated Results FY 2015-16
New Delhi, July 17, 2015: NIIT Limited, a global leader in skills and talent development, today reported its results for the first quarter ending June 30, 2015. In this quarter, the company recorded Net Revenue of Rs 233.2 Cr with a PAT of Rs15 Cr.The Operating Margin stood at 7% up 135 bps YoY. The results were taken on record at the meeting of the Board of Directors here today.
Speaking on the Company’s performance during the quarter, Mr. Rahul Patwardhan, Chief Executive Officer, NIIT Limited said, “On the back of continued and steady growth in our Corporate Learning Group and successful Business Transformation of the Skills & Careers Group, NIIT is back to growth and profitability.”
During the quarter, NIIT launched an aggressive brand positioning campaign – ‘The Place to go Places’, to reposition itself as an organisation that is much beyond IT training, offering new-age courses across multiple industry sectors, to chart exciting career opportunities in the global economy.
Commenting on NIIT’s next big opportunities in the skills and talent development space, Mr. Vijay Thadani, Vice Chairman & Managing Director, NIIT Ltd. said, “The recent announcements by the Government of India, on Skill India& Digital India, will enable mass scaling of skill development, using technology as a delivery mechanism. NIIT is well poised to harness this opportunity as its already using Cloud Campus and Synchronous Learning Technology to reach thousands of students across multiple industry segments, across India.”
Corporate Learning Group (CLG)recorded net revenue of Rs 128.5 Cr,up 15% YoY, maintaining a robust operating margin of 12%. This was backed by a strong growth in its MTS (Managed Training Services)offerings, which now contributes 89%of CLG revenues.
Mr. Sapnesh Lalla, Group President, Corporate Learning Group, NIIT Limited said, “During the quarter, NIIT’s Corporate Learning bagged 5 large multi-year, annuity based contracts, taking the overall CLG revenue visibility to USD 201.5 Mn”.
During the quarter, NIIT bagged a contract to provide managed training services to Statoil, ASA, a Norwegian multinational oil and gas company, headquartered in Stavanger, Norway.NIIT’s Corporate Learning Group will provide comprehensive managed training services for a period of ten years, renewable after the first five years.
Skills and Careers Group (SNC)recorded net revenue of Rs. 72.5 Cr during Q1.
Speaking on the Company’s strategy to strengthen its Beyond-IT offerings, Mr. Shivan Bhargava, Group President, Skills & Careers Group, NIIT Limited said, “Beyond-IT revenue share grew to 39% of SNC revenues in the first quarter, thus reaffirming ourconviction on the market potential of such offerings”.
“Further, we commit to leverage the enabling ecosystem following the launch of ‘Skill India’, by training 10 million young learners across 16 industry segments over the next five years.”, added Mr. Bhargava.
NIIT Institute of Finance Banking & Insurance Training Ltd (IFBI), NIIT University and DHFL entered into a tripartite Memorandum of Understanding (MoU) to launch a one-year Post Graduate Program in Financial Services. The program will offer graduates in tier II and tier III cities career opportunities in India’s promising housing finance sector.
In a significant development, NIIT signed an agreement with Guian New Area in the Guizhou province of China, to offer programs in new-age IT, with special focus on Big Data. The agreement was formalized during the visit of Hon’ble Prime Minister of India, Mr. Narendra Modi, to China. Through this tie-up, NIIT will work towards realizing China’s vision to promote Guian as the country’s national hub for the Big Data industry.
NIIT’s vocational skills training initiative – NIIT Yuva Jyoti Limited, established in partnership with National Skill Development Corporation (NSDC) continued to gain momentum, expanding its reach to over 215 locations.
During the quarter, NIIT Yuva Jyoti enrolled students under the pilot phase of Pradhan Mantri Kaushal Vikas Yojana (PMKVY), across three sectors – Telecom, Retail & IT in North East, Jammu &Kashmir and Jharkhand. PMKVY Scheme is a flagship scheme of the Ministry of Skill Development and Entrepreneurship (MSDE), implemented by National Skill Development Corporation (NSDC).
NIIT Yuva Jyotiand Rotary International District 3010felicitated the first batch of successful students’ who were trained for four months in Data Entry Course alongwith soft skills, personality development and ICT Skills.Rotary International District 3010 & NIIT Yuva Jyoti had earlier entered into a partnership in August 2014, to enhance livelihood of youth from less privileged sections of the society and help them to build ambitious careers by opting for programs that suit their aptitude.
School Learning Group(SLG) registered a net revenue of Rs 32.2 Cr during the quarter, maintaining an Operating margin of 6%.
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