New Delhi, Delhi, India : NIIT Limited (NSE: NIITLTD), a global leader in skills and talent development, today reported its results for the second quarter ending September 30, 2020.
Revenue recorded at Rs. 218.9 Cr, up 8% QoQ
EBITDA at Rs. 34.4 Cr, up 41% QoQ; EBITDA Margin at 16% up 367 bps QoQ
Corporate Learning Group (CLG) records revenue growth of 9% QoQ and EBITDA margin of 20%
CLG signed up 2 new MTS Customers, 2 contract expansions and 2 renewals
CLG ends the quarter with 56 MTS customers and revenue visibility at $ 259 Mn
NIIT Limited
Consolidated Financials for Quarter ended September 30, 2020
(in Rs. Crore) Quarter ended
Sep 30, 2020 Quarter ended
June 30, 2020 QoQ change Quarter ended
Sep 30, 2019
*(refer note 1) YoY change
*(refer note 1)
Net Revenue 218.9 201.8 8% 232.3 -6%
EBITDA 34.4 24.3 41% 29.1 18%
EBITDA % 16% 12% 367 bps 13% 322 bps
*Note 1: The results of previous year have been restated for a Like-to-Like comparison in accordance with Accounting Standards.
NIIT Limited (NSE: NIITLTD), a global leader in skills and talent development, today reported its results for the second quarter ending September 30, 2020. During the quarter, the company recorded Net Revenue of Rs. 218.9 Cr. EBITDA was Rs. 34.4 Cr. up 18% YoY and the EBITDA margin stood at 16%, up 322 bps YoY. Profit After Tax was recorded at Rs. 26.0 Cr, reflecting an EPS of Rs. 1.84 per share.
The results were taken on record at the meeting of the Board of Directors held today.
Speaking on the company’s performance during the quarter, Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, “The organisation demonstrated tremendous resilience to strengthen its market position and improve operational efficiency, while accelerating the pace of Digital Transformation in all aspects of the business.”
The organisation transitioned learning delivery to NIIT Digital, moved to seamless work-from-home to ensure continuity and launched new offerings catering to the evolving requirements of its customers and learners.
During the quarter Rajendra S Pawar, Chairman & Co-Founder, NIIT Group & Founder, NIIT University was felicitated with the ‘Lifetime Achievement Award’ at Dataquest ICT Awards 2019. The award was presented during a Special Webinar on ‘40 Years of ICT Industry and the Next 10 Years’.
Corporate Learning Group (CLG) recorded net revenue of Rs. 194.1 Cr, up 9% QoQ and 12% YoY. CLG added two new managed training services customers (one customer in the Telecom sector and another in the FMCG sector) and expanded its relationship with two existing clients while renewing contracts with two additional customers. The number of MTS customer tally stands at 56 and Revenue Visibility at the end of the quarter was at $ 259 million.
NIIT earned 30 coveted Brandon Hall Group HCM Excellence awards jointly with customers, during the quarter. The awards include prestigious honors for its Eagle Productivity Solutions and StackRoute divisions.
Commenting on the quarter performance, Sapnesh Lalla, CEO, NIIT Ltd. said, “The Corporate Learning Group (CLG) continues to see momentum in attracting new customers and retaining and expanding existing relationships. In the first half of the year CLG added 5 new MTS logos, and has strong revenue visibility of $ 259 Mn. Our customers see NIIT as a partner who can help them become an Adaptive Learning Organization so that they can respond to fast changing business needs.”
Skills & Careers Group (SNC) recorded net revenue of Rs. 24.7 Cr during Q2. The India business is starting to see recovery driven by StackRoute and TPaaS (Talent Pipeline as a Service) which grew 77% QoQ. SNC has transitioned its customers to the NIIT Digital platform.
StackRoute announced the launch of new line of programs in Data Engineering. Titled, ‘Enterprise Big Data Engineering & Machine Learning using Spark’ and ‘Enterprise Big Data Engineering using Databricks & Delta Lakes’ – these programs help enterprises to equip their workforce having prior experience in data projects, with steps and tools for designing and solving business challenges that fall in the category of Data Analysis and Big Data.
