Info-tech

NIIT consolidated net grows 36% in Q3

Our Bureau New Delhi | Updated on January 24, 2011

The Chairman of NIIT Ltd, Mr Rajendra S. Pawar, flanked by the CEO, Mr Vijay K. Thadani (right), and the COO, Mr P. Rajendran, during a press conference in the Capital on Friday. - Picture by Ramesh Sharma

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Sees positive momentum in market; new businesses grow 33%



NIIT Ltd on Friday posted 36 per cent year-on-year increase in consolidated net profit for fiscal's third quarter, underlining the positive momentum in the training market resulting from aggressive industry hiring.

The profit after tax stood at about Rs 13 crore in December quarter. The company saw a 130 basis point improvement in EBITDA margins (at 12 per cent) fuelled by higher business volumes, improved product mix and operational leverages.

Net revenue

The net revenue at Rs 301 crore was six per cent higher than the year-ago period. The global system wide revenue was up five per cent year-on-year at Rs 415 crore for the quarter ended December 2010.

“New businesses (which include finance and management training) grew 33 per cent. With skills shortages becoming pervasive, NIIT is positioning itself for future opportunities,” Mr Rajendra S Pawar, Chairman of NIIT Ltd, said at a conference.

Individual Learning Solutions – IT recorded a 12 per cent growth in net revenue year on year and 142 bps margin improvement during the just ended quarter.

The company posted about 46 per cent growth in job-oriented diploma programs.

Order intake for Corporate Learning Solutions was at $33.1 million for the quarter as a result of customer wins in managed training services. The closing order book stood at $92.5 million.

Forex losses

The software training firm had an adverse impact of Rs 1.4 crore on December quarter profit on account of foreign exchange losses.

Published on January 24, 2011

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