For the quarter ending December 31, 2007, NIIT, leading Global Talent Development Corporation and Asia’s largest trainer, has posted PAT of Rs 13.9 crore representing a growth of 30% YoY on a revenue of Rs. 238.8 crore.

In the same period, the company posted an Operating Profit (EBITDA) of Rs. 22.8 crore, representing a 28% growth YoY and Operating Margin improvement of 164 basis points.

Commenting on company’s third quarter performance, NIIT Chairman Mr. Rajendra S. Pawar said, ‘NIIT’s new businesses, IFBI and Imperia, grew 199% demonstrating success of the Global Talent Development initiative’.

For the nine months ended December 31, 2007, Net Revenue is up 36%, Systemwide Revenue is up 30% and PAT is up 26%, demonstrating strong performance for the year.

The results were taken on record at the meeting of the Board of Directors of NIIT Limited here today.

Individual Learning Solutions recorded a 30% growth in net revenue YoY, with Global enrolment growth at 28%. In the same period, India Career Enrolments growth was 29% YoY and China Enrolments were up 56%.

NIIT partnered with Adobe Systems Inc. to offer specialized training programs for Web, Mobile & Interactive Media space, across 32 countries. In this quarter, 11 new centres were added with 4 centres in India and 7 centres in China. NIIT GlobalNet+ continued to gain wider acceptance in the IT Infrastructure Management space and is now available across nearly 200 NIIT centres.

According to Mr. Vijay K. Thadani, Chief Executive Officer, NIIT Limited, ‘NIIT’s 30% growth in PAT was driven by strong growth in Individual Learning Solutions and improved profitability of Element K (USA).’

Element K made significant enhancements in the content library which resulted in major wins, thus strengthening their No. 2 position. NIIT’s Corporate Learning Solutions added 10 new customers across U.S.A, Europe and India, and a robust order intake of $39M which represents a 37% growth over last quarter.

NIIT’s new businesses continue to strengthen their offering with new strategic alliances. NIIT Institute of Finance Banking & 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.

Mr. P Rajendran, COO, NIIT said, ‘Strong Order Intake of Rs. 283 Mn in School Learning Solutions was driven by the successful launch of a range of new offerings.’

NIIT’s Schools Learning Solutions in association with Key Curriculum Press (U.S.A) introduced MathLab to enhance its offering for the CBSE schools and partnered with NComputing to offer cost effective learning solutions for schools in the country. Non-government schools revenue grew by 22% YoY with the addition of 79 new schools overall.

NIIT increased its presence in English language and employability training with the acquisition of Evolv as well as launch of the strategic alliance with ETS, recently.

Other highlights of Q3 2007-08:

* NIIT bagged the ‘Top Training Company Award 2007’ from leading IT magazine Dataquest.
* The popular NIIT MindChampions Academy Tournament 2007-08 was conducted across 3500 Government and Private schools, witnessing participation from nearly 1,00,000 children. World Chess Champion Viswanathan Anand awarded the zonal and national champions of the annual event.
* BT Group CEO, Ben Verwaayen delivered a lecture on ‘Opportunities and
* Challenges for talented Indians in today’s global workforce’, for students, professionals and media representatives, using NIIT Imperia synchronous learning platform, across nine cities.
* HiWEL, a joint initiative of NIIT and International Finance Corporation, has entered into an agreement with Ministry of Information and Communication (MoICT), Republic of Uganda to set up learning stations for the socially and economically disadvantaged children of Uganda.
* NIIT has been awarded the Avaya GlobalConnect Customer Responsiveness Award for the third year in succession.

Sourced From: NIIT

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