India-based skills & talent development company NIIT announced today revenue from operations of INR 851.75 million (USD 10.2 million) for the third quarter ended 31 December 2023, a fall of 8.6% over the prior year.

During the quarter, the company provided training for over 10,000 employees of prominent private banks and financial services companies. The company is also working with several customers to train and equip their workforce on Gen AI skills and working with some of them to build organisation-wide learning paths focused on Gen-AI.

Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited, said, “We are expanding in BFSI and increasing penetration across GCCs (global capability centres). We continue to see sequential recovery in business despite the ongoing hiring freeze in the technology sector.”

NIIT Ltd. provides a diverse range of learning and talent development programs to millions of individual and corporate learners in futuristic domains through its various businesses. It also provides a Talent Pipeline as a Service (TPaaS) which helps organisations address the challenge of securing mid to long term talent across technology, marketing, and sales roles.

NIIT Ltd shares last traded at INR 123.00 (USD 1.48), down 1.95% on the day and 20.54% below its 52-week high of INR 154.80 (USD 1.87), set on 14 September 2023. The company has a market cap of INR 16.94 billion (USD 204.38 million).