NIIT Limited Q3 (Oct-Dec 2009) Consolidated Results 2009-10
NIIT Limited, the leading Global Talent Development Corporation has posted consolidated net revenues of Rs. 283.6 Cr, representing a growth of 2% YoY, for the quarter ending December 31, 2009. The company’s system-wide revenue stood at Rs. 396.5 Cr, up 2% YoY.
In this quarter, the company recorded Profit After Tax of Rs 9.5 Cr compared to Rs 5.5 Cr for the same period last year, representing 74% growth YoY. The results were taken on record at the meeting of the Board of Directors here today.
Commenting on the company’s performance and growth plans, NIIT Chairman Mr. Rajendra S Pawar said, “An improving market coupled with product innovation contributed to significant improvements in enrolments and order intake.”
Individual Learning Solutions – IT recorded 11% growth in net revenue YoY and 22 % growth in enrolments.
In this quarter, NIIT entered into strategic alliance with SAP to offer training programs to prepare SAP consultants in the world-leading business software, Enterprise Resource Planning and related applications provided by SAP. The company also forged an alliance with IBM to offer cutting edge training programs on IBM technologies.
According to Mr. Vijay K. Thadani, Chief Executive Officer, NIIT Limited, “Improved IP based product mix enhanced EBITDA by 278 bps.”
School Learning Solutions with an order intake of Rs. 73.8 crores grew 197% YoY.
During the quarter NIIT added 641 schools, reflecting repeat orders from the states of Gujarat, Assam and Andhra Pradesh and also a strong response from private schools.
NIIT held multi city seminars on “De-stressing learning environment in Schools: Role of technology”, to emphasise the need for identifying right IT Learning tools for children, to bring back the joy of learning. During the seminars NIIT showcased its flagship NIIT eGuru suite of products which consist of a holistic education package that addresses the needs of all key stakeholders within the education realm-Students, Teachers, School management and Parents, with a single solution.
Mr. P Rajendran, Chief Operating Officer, NIIT said, “The new eGURU offerings were received well which contributed to the growth in non Government revenues.”
Finance & Management Training (FMT) Solutions witnessed a decisive upturn in demand through tie-ups with KPMG to offer IFRS program and IAMAI for Advanced program in Digital marketing. During this quarter, NIIT Imperia announced its 7th Academic Partner- IMI Delhi, for delivering management programs.
Corporate Learning Solutions (CLS) recorded a growth of 13 % YoY in order intake.
With fresh order intake during the quarter at USD 34.7 Mn, CLS closed the quarter with a pending order book of USD 89.3 million, up 10% YoY. During the quarter CLS witnessed growth in Learning products and Training Outsourcing segments in the US and in Government and Corporate Training segments in India. The Business Unit also added four significant customers during this period.
Other highlights of Q3 2009:
Honoured as one of the Top 10 IT education brands in China by Tencent for its influence on the students in the country.
Partnered with government of Karnataka to bring e-learning to young graduates in the state
NIIT, USA Announced a new- Managed Training Services offering, that will provide customers with the enhanced impact, reduced costs and sharpened focus that they need to succeed in today’s business climate
Chess Master 2009, organized by NIIT MindChampions Academy- a joint venture with World Chess Champion Viswanathan Anand- witnessed phenomenal participation by 4.5 lakh students across the country this year.
NIIT Corporate Chess Championship, Karnataka, saw participation by over 50 corporate teams, thus making a successful debut.
NIIT, USA received 3 Brandon Hall awards – the unofficial Oscars for Training (2 for innovation in technology and 1 for content creation)
Best IT content of the year from elearning magazine
Featured amongst Top 20 training outsourcing – for the 5th year running
Content creation award from ASTD (American Society for Training and Development)
Consolidated Financials at a Glance (Rs. Cr.)
Qtr ended
Dec 31, ‘08
Qtr ended
Dec 31, ‘09
Growth
YoY
Global System-wide Revenue
389.8
396.5
2%
Net Revenue
278.9
283.6
2%
EBITDA
22.9
31.2
36%
Profit After Tax
5.5
9.5
74%
