ANI PR Wire
28 Jul 2022, 18:45 GMT+10
New Delhi [India], July 28 (ANI/BusinessWire India): NIIT Limited (NSE: NIITLTD), a leading global talent development corporation, today reported the results for its first quarter ending June 30, 2022. During the quarter, the company recorded Net Revenue of Rs 404.8 Cr, up 34 per cent YoY and 8 per cent QoQ. EBITDA was Rs 74 Cr, up 5 per cent YoY and the EBITDA margin stood at 18.3 per cent. Profit After Tax was recorded at Rs 44.3 Cr. EPS stood at Rs 3.3.
The results were taken on record at the meeting of the Board of Directors held today.
Commenting on the results, Vijay K Thadani, Vice Chairman and Managing Director, NIIT Limited said, "In face of increasing global uncertainty and rapid macro-economic changes, NIIT continued its growth momentum resulting in a strong revenue growth of 8 per cent QoQ and 34 per cent YoY."
Corporate Learning Group (CLG) recorded net revenue of Rs 312.5 Cr, up 18 per cent YoY and 6 per cent QoQ. CLG added 4 new MTS customer contracts as well as one contract expansion and one contract renewal during the quarter. The revenue visibility for CLG, at the end of the quarter was at USD 304 million. The total number of MTS customers stands at 68.
Skills and Careers Group (SNC) recorded net revenue of Rs 92.3 Cr during Q1, up 145 per cent YoY and 16 per cent QoQ.
The quarter saw NIIT strengthening its association with Salesforce as its Authorized Training Partner by offering programs on Salesforce to fresh graduates and working professionals, to build a pan-India talent pool of Salesforce Certified Professionals.
During the quarter, NIIT Digital expanded its reach and launched New Age Dual Qualification programs for college students. These programs are designed to equip college students with multidisciplinary new-age skills, giving them the edge, they need early on for a successful corporate career.
NIIT'S subsidiary, NIIT Institute of Finance, Banking and Insurance (NIIT IFBI) entered into partnerships with HDFC Bank and Kotak Mahindra Bank to build new age Digital Talent in fintech and data engineering roles for the banking industry. It also joined hands with Bajaj Finserv to scale up the reach of Bajaj Finserv's Certificate Program in Banking, Finance, and Insurance (CPBFI).
Commenting on the quarter, Sapnesh Lalla, CEO and Executive Director, NIIT Ltd. said, "Talent remains a top priority for CEOs globally and NIIT continues to enjoy a preeminent position as a preferred partner for talent transformation for some of the largest corporations in the world, resulting in sustained growth momentum in both the businesses."
Other highlights:
- Over the last one year, leading Global Capability Centres (GCCs) have partnered with StackRoute, an NIIT initiative, for building high-quality workforce across technology, digital, data, and related roles.
- NIIT Digital was recognized as the 'Transformational platform for professional learning in new-age technologies' by India's leading IT magazine, Dataquest. NIIT won this award under the education category at the 29th edition of the Digital Leadership Conclave 2022 held by the publication.
- NIIT was named as Top 20 Learning Services company by Training Industry, Inc. This is the 15th consecutive year of being featured as a leader in learning services and training outsourcing.
- NIIT Ranked among the Top 20 Custom Content Development Companies list for the twelfth consecutive year by Training Industry, Inc.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
Get a daily dose of Thailand Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Thailand Herald.
More InformationBEIJING, China: The public security bureau in Guangzhou, a city in China, has announced a secret reward for more than 20 people it...
ISLAMABAD, Pakistan: Pakistan's army said on June 4 that its security forces raided a militant hideout and killed 14 insurgents during...
SEOUL, South Korea: South Korea's new president, liberal Lee Jae-myung, took office on June 4 after a dramatic and chaotic few months....
SEOUL, South Korea: South Korea's upcoming presidential election has turned into a messy battle full of personal insults and scandals...
TOKYO, Japan: Toyota has announced that it will take one of its key group suppliers, Toyota Industries, private in a deal worth UD$26...
SINGAPORE: On May 31, U.S. Defense Secretary Pete Hegseth told America's Indo-Pacific allies that they would not be left alone to deal...
BEIJING, China: The public security bureau in Guangzhou, a city in China, has announced a secret reward for more than 20 people it...
THE HAGUE - The International Criminal Court (ICC) has strongly condemned the United States for imposing sanctions on four of its judges,...
LOS ANGELES, California: As obesity rates among American teenagers climb to historic levels, more families and doctors are cautiously...
BERLIN, Germany: Germany has taken its first significant fiscal step to jumpstart its slowing economy. This week, the cabinet approved...
ISLAMABAD, Pakistan: Pakistan's army said on June 4 that its security forces raided a militant hideout and killed 14 insurgents during...
NEW YORK CITY, New York: The United Nations General Assembly has elected five countries to join the Security Council starting January...