NIIT Q1 net profit up 78% to ₹51.4 crore

PTI New Delhi | Updated on July 30, 2021

Its revenue increased 49 per cent to ₹301 crore from ₹201.8 crore in the year-ago period, it added

NIIT on Friday said its consolidated net profit grew 78 per cent to ₹51.4 crore in the June 2021 quarter.

The skills and talent development firm had posted a net profit of ₹29 crore in the year-ago period, a statement said.

Its revenue increased 49 per cent to ₹301 crore in the April-June 2021 quarter, from ₹201.8 crore in the year-ago period, it added.

EPS (earnings per share) stood at ₹3.8.

“NIIT delivered robust revenue growth of 49 per cent year-on-year and healthy profitability to capitalise on the emerging opportunities, amidst resurgence of the pandemic, thus demonstrating continued resilience to adverse environment conditions,” NIIT Vice-Chairman and MD, Vijay K Thadani said.

The company's Corporate Learning Group (CLG) business recorded revenues of ₹263.3 crore, clocking a 47 per cent year-on-year growth during the first quarter of FY22.

Customer acquistion

During the quarter, CLG signed 3 new MTS (managed training services) contracts, and expanded the scope of work with two existing customers. The total number of MTS customers stands at 59 with an overall revenue visibility of $298 million, the company said.

CLG business won three new MTS contracts in the life sciences and healthcare segment and expanded its relationship with two global technology majors.

“Both the Corporate Learning Group and the Skills and Careers Group recorded strong topline growth. The agile and decisive actions we took over the last several months have enabled the business to continue to create more value for our customers,” NIIT CEO Sapnesh Lalla said.

The Skills and Careers Group (SNC) recorded net revenue of ₹37.8 crore, up 62 per cent year-on-year during the reported quarter. SNC has successfully transitioned its customers to the NIIT Digital platform and through this, learners are able to access their learning plans and all associated content and services digitally, it said.

Published on July 30, 2021

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