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 Q2 (July-September 2023) |
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| Insight@NIIT:Vol 60 |
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| Investor Communication |
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| NIIT Limited announces Q2 FY24 (July-September 2023) results |
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Q2 Revenue at Rs. 814 million, grows 30% QoQ with EBITDA at Rs. 22 million |
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Profit After Tax at Rs. 106 million versus Rs. 22 million LQ |
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StackRoute, TPaaS and BFSI contribute to 69% QoQ growth in enrolments |
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Company declares interim dividend of Rs. 0.50 per share |
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| Note: Results include impact of the demerger of NLSL from NIIT Limited from April 1, 2022 |
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NIIT Limited (Ticker Symbol: NIITLTD), a leading skills & talent development corporation, announced its financial results for the second quarter ended September 30, 2023.
During the quarter, the company recorded Net Revenue of Rs. 814 million, up 30% QoQ and down 13% YoY. EBITDA was recorded Rs. 22 million as compared to Rs. (64) million in Q1 FY24 and Rs. 24 million in Q2 FY23. Profit After Tax was Rs. 106 million as compared to Rs. 22 million in Q1 FY24 and Rs. 47 million in Q2 FY23.
The results were taken on record at the Board of Directors meeting. The Board also approved an interim dividend of Rs. 0.5 per share (25% on FV of Rs 2 per share). The record date for the dividend will be November 10, 2023.
During this quarter, NIIT Ltd integrated Generative AI in its Full Stack Software Engineering, Data Science and Digital Marketing programs and also introduced special programs in AI to equip learners with the new age skills required in today’s rapidly evolving job roles. The company also re-launched its Post Graduate Programme in Banking and Finance – Sales and Relationship Management with changes in curriculum as per the industry needs. The programme has been specially designed by NIIT IFBI to transform fresh graduates into confident Banking and Finance professionals. It also provides placement assistance to the learners.
In this quarter, NIIT has also been recognized as Best Education Brand of 2023 at The Economic Times Best Education Brands awards and summit. This recognition has been conferred to NIIT for its commitment and contribution towards strengthening the upskilling and reskilling landscape through its innovative learning solutions. |
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| Other Highlights of the quarter: |
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NIIT Sales & Service Excellence (SSE) won the ‘Most Impactful Sales L&D Platform’ award at the 3rd Sales L&D Vision and Innovation Summit. |
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Key developments at RPS Consulting, an NIIT subsidiary |
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It continues to be recognized by its OEM partners for its quality of training and the strong impact it creates for its customers. |
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It has been awarded the 2023 Google Cloud Training Partner of the Year Award for the Asia Pacific region. |
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It has also been honored as one of the “Best Enterprise Partner of the Year - GLS India by Red Hat" for 2023. |
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| For more information about NIIT visit: www.niit.com |
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| NIIT Ltd integrates Generative AI into its Digital Marketing and Full Stack Software Engineering Programs |
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- This integration aims at providing more value to the learners while maintaining the overall program duration unchanged from its previous structure
NIIT Ltd announced the integration of Generative AI in its existing Digital Marketing and Full Stack Software Engineering programs. The inclusion of Generative AI is aimed at equipping learners with a competitive edge in today’s rapidly evolving job market thereby making them industry ready.
With the integration of Generative AI, these programs will now be known as the “Professional Program in Digital Marketing with a Generative AI Edge” and the “Professional Program in Full Stack Software Engineering with Generative AI Integration.” These programs have been upgraded while maintaining their existing pricing structure.
The “Professional Program in Digital Marketing with a Generative AI Edge” will present learners with an unparalleled opportunity to delve into the dynamic realm of digital marketing, enriched by the revolutionary capabilities of Generative AI.
The “Professional Program in Full Stack Software Engineering with Generative AI Integration” empowers learners to not only acquire essential full stack skills, but also gain proficiency in harnessing the power of AI to streamline coding processes, optimize system designs, and automate tasks.
Along with equipping the learners with the core skills, both above-mentioned programs will also train them to efficiently apply prompt engineering to become faster and more productive in their respective jobs.
For more details about the programs, please visit the links below:
Professional Program in Digital Marketing with a Generative AI Edge: https://www.niit.com/india/digital-marketing-program
Professional Program in Full Stack Software Engineering with Generative AI Integration: https://www.niit.com/india/software-engineering-program |
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| RPS Consulting Private Limited wins 2023 Google Cloud Training Partner of the Year - Asia Pacific Award |
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RPS Consulting Private Limited, an NIIT Limited subsidiary, has been awarded the 2023 Google Cloud Training Partner of the Year Award for the Asia Pacific region. As a leading training partner for Google Cloud, it has been recognized globally for partner innovation, for delivering exceptional training and customer success with Google Cloud in 2022.
“Congratulations on this fantastic recognition of your outstanding partnership. We’re delighted to expand our collaborative efforts to help customers as they move along their digital transformation journeys”, said Dan Rush - Instructor Led Training Business Manager, Google Cloud.
“Google Cloud’s partner awards recognize the significant impact and customer success that our partners have driven over the past year," said Kevin Ichhpurani, Corporate Vice President, Global Ecosystem and Channels at Google Cloud. "We're delighted to recognize RPS Consulting as a 2023 Google Cloud Partner Award winner and look forward to a continued strong partnership in support of our mutual customers."
As a Google Cloud Partner (GCP), RPS Consulting designed and delivered high impact outcome-based learning paths and training experiences for joint enterprise clients, during the year. These included infrastructure modernization, networking, security, application modernization, machine learning, artificial intelligence and data analytics. The company has assisted several Google Cloud teams in helping customers assess their training gaps and engaged in sharing enablement programs on Google Cloud.
Prasad Balakrishnan, Co-Founder & Director, RPS Consulting, said, “We’re deeply honored and truly delighted to have won this prestigious award for the first time. This award is a validation of our capability to create innovative industry-leading learning solutions and deliver value driven customer experiences. We are committed to the Google partnership and look forward to further collaborations and achievements with Google this year and beyond”. |
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| News@NIIT |
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