NIIT Limited
NSE Symbol NIITLTD
WHAT COMPANY SAYS :
Q3
(Oct-Dec 2011)
Consolidated Results FY’ 2011-12
Q3 PAT up 215 % YoY at Rs. 40.7 Cr
Divestment
in US subsidiary Element K completed for USD 110 Mn
Revenue
excluding Element K grows 15% YoY
Commences
operations of NIIT Yuva Jyoti, a Joint Venture with NSDC for vocational skills
to train 7 million youth in 10 years
Consolidated Financials at
a glance (in Rs. Cr) for Quarter ended Dec 31, 2011
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System-wide Revenue
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395.5
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Net Revenue
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250.1
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EBITDA
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25.1
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EBITDA %
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10%
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Profit After Tax
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40.7
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(In view of the divestment
in Element K during the quarter, the following table represents the comparison
with the previous year on a like-to-like basis)
NIIT Limited: Q3 (October
– December, 2011)
*Consolidated Financials
on a Continuing business basis
(in Rs. Cr) for Quarter ended Dec 31, 2011
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|||||
Q/E 12/11
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Q/E
12/11
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Growth
YoY
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|||
System-wide Revenue
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384.4
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321.8
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19%
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||
Net Revenue
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239.0
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207.9
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15%
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||
EBITDA
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24.4
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29.7
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(18%)
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||
*Excluding financials of Element K
The company
recorded Profit after Tax of Rs. 40.7 Cr representing a 215% growth YoY in this
quarter.
The
company’s Net Revenue stood at Rs. 250.1 Cr and the System-Wide Revenue was
recorded at Rs. 395.5
Cr. The EBITDA was at Rs. 25.1 Cr reflecting a margin of 10%.
During the quarter, NIIT divested its stake
in Element K (which was acquired for USD 36.5 Mn in 2006), for a cash
consideration of USD 110 Million. On a continuing business basis (i.e excluding
financials of Element K) the company’s Net Revenue stood at Rs. 239 Cr, up 15%
YoY, while the EBITDA was recorded at Rs. 24.4 Cr.
The total debt in balance sheet is reduced
by Rs. 286.8 Cr. and there was a net positive cash of Rs. 70.6 Cr as on
December 31, 2011.
Individual Learning Solutions – IT recorded 11% growth
in net revenue YoY, backed by growth in Diplomas & Short-term technology
modular enrolments by 10 % & 14 % respectively.
The quarter also saw successful
commencement of training delivery in colleges through Synchronous Learning
Technology.
NIIT courses continued to receive both
international & domestic acceptance. While the company earned the coveted
“Mexico First” approval for NIIT Programs & Certifications which entitles
it to subsidies by the Mexico Government, back home NIIT received the
prestigious "Franchisor of the year award" from Franchising India
2011 for developing the best franchise model in the field of education.
Corporate Learning Solutions (CLS) recorded fresh
order intake during the quarter at USD 21.2 million. CLS closed the quarter
with a pending order book of USD 47.6 million, 50% of which is executable over
the next 12 months.
CLS continued to execute on its strategy
around offering Managed Training Services (MTS) by adding two additional
multi-year multi-million dollar accounts, including a Global Oil and Gas major
and a leading technology player.
According to Mr. Vijay K. Thadani, Chief
Executive Officer, NIIT Limited, ‘‘The acquisition of two global clients for
delivering multi-year multi-million dollar Managed Training Services, growth in
enrolments both for the short term technology diploma programs and finance
& banking courses, reflected the strong acceptance of the NIIT brand, in
these challenging times.”
School Learning Solutions showed a robust
growth in the private schools space, clocking a 251% growth YoY in the number
of schools added during the quarter. Non Government schools revenue grew by 24%
YoY.
NIIT continued its focus on smaller metros
and tier II cities, by showcasing its flagship product- NIIT NGuru, learning
solutions for schools. The cutting edge NIIT NGuru consist of a holistic
education package that addresses the needs of all key stakeholders within the
education realm—Students, Teachers, School management and Parents.
During
the quarter NIIT NGuru received the eIndia Award 2011 for its innovative
learning solutions- Math Lab and Mobile Science Lab.
Mr.
P Rajendran, Chief Operating Officer, NIIT Limited said, “The Schools
Learning Solutions added 123 private schools, registering a 251% growth YoY in
the number of schools added on the NIIT NGuru platform.”
“NIIT
completed 30 years of innovation in education, on December 2, 2011”, said
Mr. Rajendra S Pawar, Chairman, NIIT Limited, commenting on the significance of
the quarter in NIIT’s journey as a leading Global Talent Development
Corporation. “Simultaneously we commenced operations of NIIT Yuva Jyoti, a
Joint venture with NSDC for vocational skills to train 7 million youth in 10
years”, added Mr. Pawar. Five Yuva Jyoti centres were operational during
the quarter, with a plan to scale upto 1500 centres across 1000 cities.
Other
major acknowledgments in Q3 2011:
NIIT features as the ‘Most Trusted Leader
in Education’ in Brand Trust Report, India Study, 2012, undertaken by Trust
Research Advisory
NIIT USA wins the Gold at the Chief
Learning Officer (CLO) magazine’s annual “Chief Learning Officer Learning In
Practice” awards
NIIT USA honoured with the 3 Brandon Hall
‘Excellence Awards’ for Performance Support, Learning, and Marketing
NIIT USA honoured at Seventh Annual Human
Resource Outsourcing Association (HROA) Awards for its partnership with Diageo
NIIT NGuru wins Manthan Award in
Chairman’s distinction category for e-education and learning
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