NIIT announces Q2 results FY 2013-14

19th October 2013 | By Mouseworld Now Correspondent |

New Delhi, India, October 19, 2013: NIIT, leading Global Talent Development Corporation and Asia’s largest IT trainer, has reported its results for the second quarter ending September 30, 2013.

In this quarter, the company recorded Net Revenue of Rs. 262.4 Cr and PAT of Rs. 12 Cr. During the quarter, Corporate Learning Solutions (CLS) recorded net revenues of Rs. 99.3 Cr, up 32% YoY. The pending order book was USD 53.1 Mn, 69% of which is executable over the next 12 months.

Reflecting a strong global acceptance of its Corporate Training offerings – led by Managed Training Services – NIIT received the most prestigious recognition in the learning and development industry: The Brandon Hall Awards in USA, this quarter. NIIT won the Brandon Hall Excellence Gold Award in the “Best Training Program for the Extended Enterprise” category, jointly with Allstate. It was also awarded the Brandon Hall Excellence in Learning 2013 Silver Award in the “Best Custom Content” category, jointly with Shell.

Vijay K Thadani, Chief Executive Officer, NIIT Limited, said, “Our focus on Managed Training Services as one of the four growth platforms, enabled Corporate Learning Business to achieve a growth of 32%, signalling a strong enterprise demand for the offering.”

Career Building Solutions (CBS) recorded net revenue of Rs. 126.9 Cr backed by Cloud-enabled program enrolments of over 13,800. The pioneering Cloud campus initiative has now expanded to cover 78 courses and 209 centres with a cumulative enrolment of over 47,000 students.

CBS launched new products during the quarter including Mobile Apps, Program on Global Finance and Accounting, and Diploma in Corporate Accounting and Applied Finance.

In Q2, NIIT entered into a partnership with Autodesk to introduce training programs in Design as a learning discipline in India. The objective of the program is to promote design literacy, design skilling and research & innovation in design.

During the quarter, NIIT announced India’s most significant IT Scholarship program – ‘22nd Bhavishya Jyoti Scholarship’, to reward meritorious students desirous of building successful careers in diverse industries that require Information Technology skills. Bhavishya Jyoti Scholarship is NIIT’s initiative to enhance employability of meritorious students and make them job-ready to meet the industry needs.

NIIT Institute of Finance, Banking & Insurance Training Ltd. (IFBI) completed 7 years of successful operations in Q2. During these 7 years, IFBI reached its leadership position in the industry, having trained over 1,00,000 banking professionals for the Banking sector and placed over 25,000 graduates.

During the quarter IFBI placed 3,312 students, up 188% YoY. Fresh enrolments grew by 15% YoY. IFBI organized the 3rd National Banking Career Fair to benefit students aspiring to make a mark in India’s fast-evolving banking sector.

Rajendra S Pawar, Chairman, NIIT, said, “NIIT’s portfolio of offerings beyond IT is now taking shape with the Banking domain showing a healthy growth with a surge in placements”.

Management training enrolments at NIIT Imperia grew 18% YoY in Q2

School Learning Solutions (SLS) recorded net revenue of Rs. 35.8 Cr during the quarter.

 

© Mouseworld Now News Service

 

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