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Skills and talent development firm NIIT on Friday said its consolidated net profit has seen manifold jump to ₹10.4 crore in June 2017 quarter, helped by strong growth in its corporate learning business.
The company’s net profit was at ₹0.8 crore in the corresponding quarter last year.
Its net revenue growth, however, was almost flat at ₹209.9 crore in the quarter under review compared with ₹210 crore in the year-ago period.
“The business transformation programme has started to yield results. Our go-forward business has grown 5 per cent year-on-year,” NIIT CEO Rahul Patwardhan said in a statement.
The company’s net debt reduced from ₹130.4 crore to ₹40.2 crore on year-on-year basis.
NIIT CEO Designate Sapnesh Lalla said the Corporate Learning Group (CLG) business continues to be on a strong growth path.
“We added two new MTS (Managed Training Services) clients this quarter, and have significantly expanded services of an existing client. We go into the second quarter with a healthy pipeline of new deals,” he added.
CLG recorded a net revenue of ₹117.5 crore, up 14 per cent year-on-year in constant currency terms, maintaining a steady operating margin of 15 per cent.
The learning platform has generated a revenue visibility of over ₹6 crore, NIIT said.
It added that the Skills and Careers Group recorded a net revenue of ₹68.1 crore during the first quarter of 2017-18.
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