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View All NewsIndia – NIIT Limited third quarter revenue rises 51.4% as profits improve
NIIT Limited, an India-based skills and talent development company, announced today its unaudited financial results for the third quarter ended 31 December 2021. During the quarter, the company recorded net revenue of INR 3.836 billion (USD 51.08 million), an increase of 51.4% over the previous year.
| (INR millions) | Q3 2021 | Q3 2020 | Change | Q3 2021 (USD millions) |
| Net Revenue | 3,836 | 2,534 | 51.4% | 51.8 |
| EBITDA | 827 | 471 | 75.5% | 11.0 |
| EBITDA Margin | 21.6% | 18.6% | - | - |
| Profit After Tax | 550 | 415 | 32.5% | 7.3 |
By segment, the Corporate Learning Group (CLG) recorded net revenue of INR 2.96 billion (USD 39.43 million), up 36% over the year and 9% over the quarter.
The Skills & Careers Group (SNC) segment recorded net revenue of INR 874 million (USD 11.63 million) during Q3, up 144% over the year and 108% on the quarter. The India business is starting to see recovery driven by StackRoute and TPaaS (Talent Pipeline as a Service). SNC has transitioned its customers to the NIIT Digital platform. NIIT completed the acquisition of RPS Consulting on 1 October 2021 and integrated its financials in SNC performance.
Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, “With talent emerging as the top priority for every organisation globally, NIIT with its strong balance sheet and market-leading offerings, is uniquely positioned to take advantage of the current environment. Creating two independently run businesses with significant growth capital will propel both CLG and SNC to realize their true potential and create value for all stakeholders”.
Sapnesh Lalla, CEO and Executive Director, NIIT Ltd said, “Both the Corporate Learning Group and the Skills and Careers Group have witnessed robust growth and acceleration in customer addition during Q3. The integration of RPS Consulting into the NIIT family is proceeding as per plan and creating opportunities for expanding share of wallet with our customers”.
NIIT Limited, set up in 1981, describes itself as a global talent development corporation that is engaged in building skilled human capital and enhancing workforce talent worldwide.
Shares in NIIT Ltd closed at INR 395.20 (USD 5.26), -22.05% below its 52-week high of 507.00 (USD 6.75), set on 17 January 2022. The company has a market cap of INR 50.08 billion (USD 666.63 million).