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Company Name : NIIT Limited

Wednesday, May 16, 2018 5:50PM IST (12:20PM GMT)

(NSE: NIITLTD)

NIIT Ltd. Records FY18 PAT at Rs. 62.5 Cr, up 53 percent YoY


New Delhi, Delhi, India

  • Q4 Revenue at Rs. 222.8 Cr, up 6% YoY; EBITDA at Rs. 22.1 Cr, up 22% YoY
  • Acquired Eagle Productivity Solutions, a top-rated global provider of training solutions for companies in the Pharmaceutical and Life sciences industry
 NIIT Limited, a global leader in skills and talent development, today reported its results for FY18 and fourth quarter ending March 31, 2018.
 
                                                                                         FY 2017- 18 highlights:
NIIT Limited : Consolidated Financials for Year ended March 31, 2018
(in Rs. Crores) Year ended
March 31, 2018
Year ended
March 31, 2017
 
YoY growth
Net Revenue 850.5 845.2 1%
EBITDA 74.6 67.4 11%
Profit After Tax 62.5 40.9 53%
FY18 constant currency Go forward Revenue up 6% YoY
 *Note: The accounts have been prepared based on Ind AS, as on 31st March, 2018. To make it comparable on a like-to-like basis, the accounts as on 31st March, 2017 have been converted into Ind AS.

                                                                                         Quarter 4 highlights:
NIIT Limited: Consolidated Financials for Quarter ended March 31, 2018​ ​ ​
(in Rs. Crores) Quarter ended
March 31, 2018
Quarter ended
March 31, 2017
 
YoY growth
Net Revenue 222.8 209.4 6%
EBITDA 22.1 18.1 22%
 *Note: The accounts have been prepared based on Ind AS, as on 31st March, 2018. To make it comparable on a like-to-like basis, the accounts as on 31st March, 2017 have been converted into Ind AS.
 
The results for FY18 were taken on record at the meeting of the Board of Directors here today.
 
For the full year, the Company's Net Revenue stood at Rs. 850.5 Cr, up 1% YoY and PAT was recorded at Rs. 62.5 Cr, up 53% YoY. FY18 constant currency Go forward Revenue was up 6% YoY. During the quarter, the company recorded a Net Revenue of Rs. 222.8 Cr, up 6% YoY and a PAT of Rs. 19.7 Cr. Quarter 4 constant currency Go forward Revenue grew by 10% YoY.
 
Cash Management was robust, with Net Debt reducing to Rs. 40.1 Cr, including acquisition related cash out flow, as compared to Rs. 41.9 Cr same time last year; and DSO days reduced to 71 days from 83 days last quarter.
 
Speaking on the company's performance, Mr. Sapnesh Lalla, CEO, NIIT Limited said, "FY18 saw robust profitability, with PAT growing 53% YoY. EBITDA grew 22% YoY in Q4, on the back of Corporate Learning Group (CLG) delivering a strong revenue growth of 28% YoY during the quarter. CLG now forms 65% of NIIT revenue, showcasing strong performance and a higher growth trajectory.
 
Corporate Learning Group (CLG) recorded revenues of Rs. 145.1 Cr, up 28% YoY during Q4. It signed 5 MTS contracts in Q4, including 3 new customers, taking the total number of MTS customers to 39.
 
Full year revenue for CLG was recorded at Rs. 518.3 Cr, up 14% YoY. Revenue visibility stood at $217.6 Mn up 18% YoY.
 
During this fiscal year NIIT acquired Eagle Productivity Solutions, a top-rated global provider that specializes in training solutions for companies adopting sophisticated cloud-based applications in the pharmaceutical and life sciences industry. The acquisition will help NIIT expand its training capability for global rollout of cloud-based enterprise applications in the pharmaceutical and life sciences industry.
 
In FY18, NIIT entered into a strategic relationship with Cornerstone OnDemand (NASDAQ: CSOD), a global leader in cloud-based learning and human capital management software. The company also announced a strategic relationship with EdCast, the award-winning, AI-powered Knowledge Cloud provider with customers that include GE, HPE, Dell EMC, and Accenture.
 
Skills & Careers Business (SNC) recorded Q4 net revenue of Rs. 58.4 Cr. Beyond IT contributed 40% to SNC's Q4 FY18 revenue compared to 37% in Q4 FY17.
 
For the full year, SNC recorded net revenue of Rs. 266.9 Cr.
 
NIIT introduced five new Career Series programs during the quarter - Accounting & Business Analytics; Banking & Finance; Data Analytics & Predictive Modelling; Digital Marketing & Branding; and Full Stack Software Engineering.

With the business environment getting increasingly competitive, companies are focusing on their core competencies and outsourcing other operations. Continuous availability of skilled talent, matching the speed and scale of business expansion, is a constant challenge for companies across sectors. To address this opportunity, NIIT has introduced TPaaS – Talent Pipeline as a Service, which encompasses all aspects involved in on-boarding new talent, including talent acquisition, talent orientation, on-boarding & integration.

In FY18, NIIT entered into a strategic partnership with UP! Your Service, the global leader in creating cultures of service excellence worldwide, to expand its Corporate Learning portfolio to deliver internal and external cultures of Service Excellence.

During this fiscal year Training.com - a multi-modal learning platform by NIIT along with IIM Calcutta announced fresh batches of Advanced Program in Data Sciences and Executive Program in Digital and Social Media Marketing Strategy. Since the launch of the platform in October 2016, Training.com has generated more than 2 million visitors. Training.com has built a portfolio of over 148 advanced courses including programs in Digital Marketing, Technology, Data Science and Applied Finance from premium institutions including IIM-C, Microsoft and Digital marketing institute.

MindChampion Learning Systems Limited (MLSL) registered net revenue of Rs. 17.6 Cr during the quarter. In Q4 it added 317 school contracts and released new curriculum products in Maths, Science and English.

Full year revenue for MLSL was recorded at Rs 59.3 Cr. It added 668 school contracts during the year.
 
Other highlights:
  • NIIT ranked as ‘India’s Most Trusted Training Brand’ for 5th year in a row, by Brand Trust Report, 2017.
  • NIIT named to Training Industry 2017 Top 20 Training Outsourcing Company List for the eleventh consecutive year.
  • NIIT named to TrainingIndustry.com’s Top 20 Gamification Companies List for the fourth consecutive year.
  • NIIT named Innovation Award winner at Future Learning 2020 Summit.
  • NIIT earns Twenty Brandon Hall Group HCM Excellence Awards jointly with customers.

About NIIT

NIIT is a leading Skills and Talent Development Corporation that is building a manpower pool for global industry requirements. The company, which was set up in 1981 to help the nascent IT industry overcome its human resource challenges, today ranks among the world's leading training companies owing to its vast and comprehensive array of talent development programs. With a footprint across 40 nations, NIIT offers training and development solutions to Individuals, Enterprises and Institutions. NIIT has three main lines of business across the globe – Corporate Learning Group, Skills & Careers Business and MindChampion Learning Systems Limited.
 
NIIT's Corporate Learning Group (CLG) offers Managed Training Services (MTS) to market-leading companies in North America, Europe, Asia, and Oceania. The Skills & Careers Business (SNC) delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in areas including Digital Transformation, Banking, Finance & Insurance, Soft Skills, Business Process Excellence, Retail Sales Enablement, Management Education, Multi-Sectoral Vocational Skills, Digital Media Marketing, and new-age IT.  As NIIT's wholly owned subsidiary for its K-12 school learning initiative - MindChampion Learning Systems Limited (MLSL), provides futuristic NIIT nGuru range of learning solutions for schools comprising, interactive Classrooms with digital content, technology-driven Math Lab, IT Wizard programs and Quick School - an Education Resource Planning software. The Training.com learning platform is an NIIT initiative for advanced career programs, which are delivered live by industry experts in an immersive and interactive online mode, combining instructor-led classrooms with the convenience of accessing the training sessions from anywhere.

As the Most Trusted Training Brand in India for 5th year in a row (Brand Trust Report, 2017), NIIT's learning and talent development solutions, continue to receive widespread recognition globally. NIIT has been named among the Top 20 Training Outsourcing Companies for the past eleven consecutive years by Training Industry, Inc. USA. Further, leading Indian ICT journal Dataquest has conferred upon NIIT the 'Top Training Company' award successively for the past 20 years, since the inception of this category. NIIT has also been featured as the 'Most Respected Education Company'- 2016 by leading financial magazine, Business World. NIIT.tv – a disruptive innovation by NIIT, won the prestigious award for 'Educational Technology, at the Indo-American Education Summit 2016.

Visit us at: www.niit.com

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Click here for Media Contact Details

Prateek Chatterjee, Senior Vice President, Corporate Communications & Marketing, NIIT Limited, +91-9910201085, +91 (124) 4293041, prateek.chatterjee@niit.com

Kapil Saurabh, For Investors, NIIT Limited, +91-9899117793, +91 (124) 4293324, kapil.saurabh@niit.com

Swati Sharma, Corporate Communications & Marketing, NIIT Limited, +91-9999601154, +91 (124) 4293042, swati.1.sharma@niit.com

Sumana Bhattacharya, Candour Communications, +91-9810597176, sumana@candour.co.in

Puja Shalini, Candour Communications, +91-9654850909, puja@candour.co.in


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News Summary

NIIT Limited, a global leader in skills and talent development, today reported its results for FY18 and fourth quarter ending March 31, 2018.