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NIIT Limited announces Q2 (July-Sept 10) consolidated results 2010-11

·         Q2 PAT up 9% YoY at Rs 28.5 Cr on a Net Revenue of Rs 345.8 Cr

·         EBITDA margin grows by 161 bps at 15%

·         New Businesses grow 114%; China  grows 44%

·         Corporate Learning Solutions records order intake of USD 31 Mn

 

NIIT Limited : Q2 (July- September, 2010) Consolidated Financials at a Glance (in Rs Cr)

 

 

 

Qtr ended
September 30, 2009

Qtr ended
September 30, 2010

Growth YoY

 

 

 

Global System-wide Revenue

555.6

574.4

3%

15% YoY growth on a like-to-like basis*

 

 

Net Revenue

359.8

345.8

(4%)

14% YoY growth on a like-to-like basis*

 

 

EBITDA

49.6

53.2

7%

EBITDA margin of 15% with 161 bps improvement

 

 

Profit After Tax

26.2

28.5

9%

EPS of Rs 1.7

 


*Normalized for one time pass through revenue last year
 
New Delhi, October 22, 2010: For the quarter ending September 30, 2010, NIIT Limited, leading Global Talent Development Corporation and Asia’s largest IT trainer, recorded global system-wide revenue of Rs 574.4 Cr, an increase of 3% YoY with net revenue of Rs 345.8 Cr. The Company recorded PAT of Rs 28.5 Cr up 9% YoY. EBITDA margin grew by 161 bps YoY at 15%. The global system wide revenue grew by 15% YoY on a like-to-like basis and net revenue by 14% YoY on a like-to-like basis after normalization of one time pass through revenue last year.
 
The results were taken on record at the meeting of the Board of Directors of NIIT Limited here today.
 
 According to Mr Rajendra S Pawar, Chairman, NIIT Limited, 31% growth in placements this quarter is a reaffirmation of the strong hiring sentiments in IT and acceptance of NIIT’s training offerings”.
 

During the quarter, NIIT strengthened its offerings in the IT space with the launch of GNIIT for Engineers, an industry-endorsed program designed to enhance employability of engineering graduates. The company also entered into an alliance with Tally, to create skilled workforce for Small and Medium Businesses.

 

Individual Learning Solutions recorded 17% YoY growth in net revenue on the back of 8% growth in GNIIT series enrolments, 177% growth in the job-oriented diploma programs and 172% growth in Finance & Management training enrolments.

 

In international markets, NIIT further strengthened its positioning in global talent development. China operations recorded a robust growth of 44%. The company also set up new operations in Brunei and organized its 11th successful scholarship drive in Nigeria.

 

Finance & Management Training (FMT) recorded a 139% YoY growth in revenue. NIIT Imperia entered into a strategic alliance with Google to offer cutting-edge training program in online advertising, certified by Google.

 

Corporate Learning Solutions (CLS) recorded a net revenue of Rs 148.7 Cr, up 11% YoY with a volume growth of 15% YoY. Order intake for CLS was at USD 31 Mn for the quarter as a result of significant customer wins in Managed Training Services. The closing order book stood at USD 92 Mn, up 11% YoY.

 

Commenting on the quarter performance, Mr Vijay K Thadani, Chief Executive Officer, NIIT Limited, said, Robust order intake of USD 31 Mn supported volume growth in Corporate Learning Solutions business. This reflects distinctiveness of NIIT’s solutioning capabilities and is also an endorsement of Element K’s vast eLearning library.

 

During the quarter, NIIT reaffirmed its leadership position in the IT training space by winning the Dataquest Top IT Training Company Award 2010, for the 18th consecutive year. NIIT also received the prestigious Microsoft Partner Summit Award for Best Learning Solutions, Highest Revenue Partner for the year 2009-10 and the Franchisor of the year Award 2010 by Franchise Plus Magazine, for developing and demonstrating the best business model in the field of Information Technology Education.

 

NIIT along with its brand ambassador, Grand Master Viswanathan Anand launched the ‘Certificate Program in Chess as Mind Booster’ in partnership with IGNOU, to enable development of young minds through Chess. This is the first such program to be made available in this space.

 

Mr P Rajendran, COO, NIIT said, “Fresh order intake of another Rs 48.7 Cr in the School Learning Solutions business strengthened the order book further, for ensuring a robust delivery of annuity based revenues in the future.”

 

Other highlights:

-          NIIT (USA) received the CLO Gold award for Virtual World Education, for the customized training solution put together for KFC in the US.

-          Element K Inc. was named the finalist for "Best IT Content 2010" by ELearning! Magazine and was ranked among “Top 20 Learning Portal Companies" by Training Industry Inc. during the quarter.

 

About NIIT 

 

NIIT Limited, leading Global Talent Development Corporation and Asia’s largest IT trainer, has impacted over 5 million students across 40 countries through its learning and knowledge solutions.

 

Leading IT magazine Dataquest has conferred upon NIIT, the ‘Top IT Training Company’ award successively for the past 18 years, since the inception of this category. Rated among India’s Business Superbrands 2008, NIIT’s Individual Learning Business offerings include industry-endorsed programs for students seeking careers in IT - GNIIT, Edgeineers and Global Net Plus for IT professionals.

 

NIIT has provided computer-based learning to over 15,000 government and private schools. The futuristic NIIT eGURU range for schools is a holistic education package that comprises of Interactive Classrooms (an embedded Teaching Learning Material, that uses elements of interactivity, automation and web links library); Math lab (technology tools that enable school students to learn and explore mathematical concepts); IT Wizard (equips the students with core computer knowledge and IT skills); and Quick School (an Education Resource Planning solution for school management).

 

For working professionals, NIIT Imperia, Centre for Advanced Learning, offers Executive Management Education Programs in association with Indian Institutes of Management (IIMs) at Ahmedabad, Indore, Kolkata, Lucknow, IMT Ghaziabad and IIFT Delhi.

 

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 Uniqua, Centre for Process Excellence, addresses the increasing demand for skilled workers in the business and technology services industry by providing training programs in relevant areas. This is a part of NIIT Institute of Process Excellence, a NIIT-Genpact venture.

 

NIIT’s Corporate Learning Solutions, offers integrated learning solutions (including 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 delivers a tailored combination of catalog learning products, technology and services through Element K offerings. These include: vLab®: hands-on labs, instructor-led courseware, comprehensive e-reference libraries, technical journals, and KnowledgeHub™: hosted learning management platform. This makes NIIT the first and the best choice for comprehensive learning solutions, worldwide.

 

Ushering in a new model in higher education is the not-for-profit NIIT University, established in 2009 with a vision of being the leading centre of innovation and learning in emerging areas of the Knowledge Society. Nestled in the foothills of Aravali, in Neemrana, Rajasthan, the picturesque 100 acres fully residential green campus has been developed as an institute of excellence based on the four core principles of providing industry linked, technology based, research driven, seamless education.

 

 

For media queries, please contact:

Prateek Chatterjee, NIIT Ltd, Ph: (Cell) +91 9910201085, (Dir) +91 124 4293041

Email: prateek.chatterjee@niit.com  

Reema Bardhan, NIIT Ltd., Ph: (Cell) +91 9891267470, (Dir) +91 124 4293042

Email: reema.bardhan@niit.com

(or)

 

Visit www.niit.com

Follow us on www.twitter.com/niitltd                                                  

 

Investors may contact:

Kapil Saurabh, NIIT Ltd, Ph: +91 124 4293324; Fax: +91 124 4293333;

Email: kapil.saurabh@niit.com

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