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NIIT bottom line rises to Rs 14 Cr
By siliconindia
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Wednesday, 23 January 2008, 02:41 IST
New Delhi: NIIT a talent development company reported a growth of 30 percent Profit After Tax (PAT) for the quarter ending December 31, 2007, to touch 
13.9 crore compared with 10.7 crore in the corresponding quarter of last FY.
The company posted an Operating Profit (EBITDA) of 22.8 crore, representing a 28 percent growth Year Over Year (YoY) and Operating Margin improvement of 164 basis points.
"NIIT's new businesses, IFBI and Imperia, grew 199 percent demonstrating success of the Global Talent Development initiative," said Rajendra S. Pawar, Chairman, NIIT.
For the nine months ended December 31, 2007, Net Revenue is up 36 percent, Systemwide Revenue is up 30 percent and PAT is up 26 percent, demonstrating strong performance for the year.
Individual Learning Solutions recorded a 30 percent growth in net revenue YoY, with Global enrolment growth at 28 percent. In the same period, India Career Enrolments growth was 29 percent YoY and China Enrolments were up 56 percent.
"NIIT's 30 percent growth in PAT was driven by strong growth in Individual Learning Solutions and improved profitability of Element K (USA),"said Vijay K. Thadani, Chief Executive Officer, NIIT.
NIIT Institute of Finance Banking and Insurance has tied up with HDFC Bank and YES Bank to expand within the banking sector; implemented new programs for the insurance sector in partnership with ICICI Prudential and with ICICI Securities for the financial services sector. NIIT Imperia has tied up with Indian Institute of Foreign Trade to expand its offering in the Executive Management Education space. Going beyond metros, these new business offerings are now available across 15 locations in 12 cities.
"Strong Order Intake of 283 Mn in School Learning Solutions was driven by the successful launch of a range of new offerings," said P Rajendran, COO, NIIT.
NIIT increased its presence in English language and employability training with the acquisition of Evolv, a consulting company as well as launch of the strategic alliance with ETS, recently.
13.9 crore compared with 10.7 crore in the corresponding quarter of last FY.
The company posted an Operating Profit (EBITDA) of 22.8 crore, representing a 28 percent growth Year Over Year (YoY) and Operating Margin improvement of 164 basis points.
"NIIT's new businesses, IFBI and Imperia, grew 199 percent demonstrating success of the Global Talent Development initiative," said Rajendra S. Pawar, Chairman, NIIT.
For the nine months ended December 31, 2007, Net Revenue is up 36 percent, Systemwide Revenue is up 30 percent and PAT is up 26 percent, demonstrating strong performance for the year.
Individual Learning Solutions recorded a 30 percent growth in net revenue YoY, with Global enrolment growth at 28 percent. In the same period, India Career Enrolments growth was 29 percent YoY and China Enrolments were up 56 percent.
"NIIT's 30 percent growth in PAT was driven by strong growth in Individual Learning Solutions and improved profitability of Element K (USA),"said Vijay K. Thadani, Chief Executive Officer, NIIT.
NIIT Institute of Finance Banking and Insurance has tied up with HDFC Bank and YES Bank to expand within the banking sector; implemented new programs for the insurance sector in partnership with ICICI Prudential and with ICICI Securities for the financial services sector. NIIT Imperia has tied up with Indian Institute of Foreign Trade to expand its offering in the Executive Management Education space. Going beyond metros, these new business offerings are now available across 15 locations in 12 cities.
"Strong Order Intake of 283 Mn in School Learning Solutions was driven by the successful launch of a range of new offerings," said P Rajendran, COO, NIIT.
NIIT increased its presence in English language and employability training with the acquisition of Evolv, a consulting company as well as launch of the strategic alliance with ETS, recently.