NIIT Limited : announces Q3 (Oct - Dec 2012) Consolidated Results FY 2012-1301/18/2013| 03:53am US/Eastern
Quarter 3 highlights on a continuing business basis
· Records Net Revenue at Rs 232.7 Cr
· Corporate Learning Solutions grows 14% YoY, led by 6 MTS orders
· School Learning Solutions grows 35% YoY
· Fresh Career Enrolments for Banking programs grow 33% YoY
· Strengthens IT Training offerings; Inks MoU with NASSCOM with a vision to provide industry-aligned training to over 1 lakh students in the next three years
NIIT Limited: Q3 (Oct - Dec, 2012)
Consolidated Financials at a glance for Quarter ended December 31, 2012
(in Rs. Cr)
System wide Revenue
Profit After Tax
(In view of the divestment in Element K during FY 2011- 12, the following table represents the YoY comparison on a Continuing business basis)
NIIT Limited : Q3 (Oct - Dec 2012)
Consolidated financials on a continuing business basis for quarter ended December 31, 2012*
December 31, 2011
(in Rs. Cr)
December 31, 2012
(in Rs. Cr)
*Excluding financials of Element K
New Delhi, January 18, 2013: NIIT Limited, leading Global Talent Development Corporation and Asia's largest IT trainer, today reported its results for the third quarter ending December 31, 2012. In this quarter, the company recorded a Net Revenue of Rs. 232.7 Cr with a PAT of Rs 0.5 Cr.
The results were taken on record at the meeting of the Board of Directors here today.
Career Building Solutions (CBS) recorded net revenue of Rs. 103.4 Cr during the quarter. Despite a challenged quarter, NIIT graduate's job-readiness and acceptance by the industry continued to be favourable with 8,879 students getting placed during Q3. At the same time, the short-term technology courses registered a growth of 9%.
Into its fourth decade of leadership in Global Talent Development, NIIT extended its portfolio to provide training for Commerce graduates and Digital Marketing professionals during the quarter. NIIT rolled out the Diploma in Applied Financial Management for B.Com students and entered into a tie-up with Digital Marketing Institute (Ireland) to create a globally competitive resource pool for the fast evolving digital marketing industry in India.
NIIT strengthened its IT training portfolio during the quarter, by entering into a MoU with NASSCOM to enhance skill development of graduates through its in-campus training initiative, across colleges in the country.
Commenting on the company's performance, Mr Rajendra S Pawar, Chairman, NIIT Limited said, "A Growth of 33% in fresh career enrolments for banking programs reflects the opportunities in the BFSI segment."
NIIT reinforced its talent development initiatives in the International arena, by signing MoU with Vietnam's 3rd largest, University of Da-Nang for its in-campus training initiative, NIIT-Inside.
During the quarter NIIT Imperia launched two new programs- Advanced Program in Strategy for Leaders and Advanced Program in Human Resource Management from IIM, Lucknow.
NIIT completed the intensive training programs for the second batch of Tax Return Preparers for Department of Income Tax in which 3,685 candidates got certified during this quarter.
Corporate Learning Solutions (CLS) recorded net revenues of Rs.79.2 Cr., up 14% YoY on a continuing business basisand added 3 new global customers during the quarter.
Mr Vijay K Thadani, Chief Executive Officer, NIIT Limitedsaid "MTS (Managed Training Services) continued to gain acceptance during the quarter by growing at 18%. It now contributes 70% to our Corporate Learning Solutions business, which now has a revenue visibility of USD 134 Mn."
School Learning Solutions registered net revenue of Rs. 49.8 Cr. during the quarter, up 35% YoY. 137 new schools with Nguru solutions were added in Q3 and Non Government schools revenue grew by 13% YoY.
NIIT MindChampions Academy (MCA) - a joint initiative by NIIT and World Chess Champion Viswanathan Anand to initiate young minds into the World of Chess in schools - crossed the milestone of impacting over 1.65 million children across 16,500 schools since inception, during the quarter.
Mr P Rajendran, Chief Operating Officer, NIIT Limitedsaid, "The success of NIIT MindChampions' Academy (MCA) is a reflection of growing acknowledgement of Chess as a powerful tool to develop young minds. We continue to extend MCA as part of our innovative offerings for schools. "
NIIT's vocational skills training initiative - NIIT Yuva Jyoti, established in partnership with National Skill Development Corporation (NSDC) added new centres this quarter, taking the total number of centres to 26 with over 3,500 enrolments since commencement.
Awards and acknowledgements during Q3:
· Received the Brandon Hall Excellence in Learning 2012 Silver Award in the Best in Competencies and Skill Development category jointly with Shell for Shell Standard Primavera Education.
· Awarded the silver in Chief Learning Officer Learning in Practice 2012 awards for the Excellence in E-Learning category for MetLife Virtual Induction Program.
NIIT Limited, a leading Global Talent Development Corporation and Asia's premier IT trainer, offers learning and knowledge solutions across 38 countries. Leading IT journal Dataquest has conferred upon NIIT the 'Top IT Training Company' award successively for the past 20 years, since the inception of this category.
NIIT's Individual Learning Business offerings include industry-endorsed programs for students seeking careers in IT - GNIIT and Edgeineers, and Global Net Plus for IT professionals. The company has introduced "India's first cloud campus", through its new-age GNIIT program. This offers students a higher mobility as they can access courseware using Netbooks to connect seamlessly to NIIT's Cloud Campus network.
NIIT's Corporate Learning Solutions offers Managed Training Services including integrated learning solutions (strategic consulting, learning design, content development, delivery, technology, assessment and learning management) to Fortune 500 companies, Universities, Technology companies, Training corporations and Publishing houses.
NIIT Yuva Jyoti, a joint venture between NIIT and NSDC, offers vocational skills training programs to enhance employability of youth across India.
NIIT has provided computer-based learning to over 16,500 government and private schools. The futuristic NIIT NGuru range of learning solutions for schools comprises Interactive Classrooms, Math Lab, IT Wizard programs and Quick School (Education Resource Planning software).
NIIT Imperia - Centre for Advanced Learning, offers Executive Learning Programs in association with leading Business schools in India, KPMG, Google India and Internet and Mobile Association of India (IAMAI), using the synchronous learning platform.
NIIT Institute of Finance Banking & Insurance (IFBI), formed by NIIT with equity participation from ICICI Bank, offers programs for individuals and corporates in Banking, Financial Services and Insurance.
NIIT Institute of Process Excellence Limited, a NIIT-GENPACT venture (NIIT Uniqua), offers complete training outsourcing services to the Business Process, Knowledge and Technology Services industry to create business models that enhance productivity and lower costs.
NIIT has been ranked among the 'Top 10 India's Best Companies to Work for- 2012' by Great Places to Work Institute and 'Top 10 Best Employers in India- 2011' by Aon Hewitt. The company has also been voted the second most trusted education brand in India by Brand Equity- Nielsen Survey 2011.
For media queries, please contact:
Vice President, Corporate Communications & Marketing, NIIT Limited
Ph: (Cell) +91 9910201085, (Dir) +91 124 4293041
Corporate Communications & Marketing, NIIT Limited
Ph: (Cell) +91 9891267470
Sumana Bhattacharya/Niharika Sneha
Ph: (Cell) +91 9810597176/ 8800861353
Investors may contact:
Kapil Saurabh, NIIT Limited, Ph (Cell) +91 9899117793, (Dir) +91 124 4293324