The National Institute of Information Technology (NIIT), a Managed Training services company, said it recorded a jump of 78 percent in net profit at Rs. 51.4 percent in the quarter ended June 2021.
The skills and talent development firm have reported a net profit of Rs.29 crore in the quarter of the previous year. NIIT’s revenue increased 49 percent at Rs. 301 crore in the June quarter, from Rs. 201.8 crore in the same period of last year.
Vijay K Thadani, Vice-Chairman and Managing Director of the company, said, “NIIT delivered robust revenue growth of 49 percent YoY and healthy profitability to capitalize on the emerging opportunities, amidst the resurgence of the pandemic. It demonstrated continued resilience to adverse environmental conditions.”
NIIT’s Corporate Learning Group (CLG) business recorded revenues of Rs. 263.3 crore, up 47 percent yearly during the first quarter of FY22.
NIIT Acquisitions –
CLG signed three new MTS (managed training services) contracts during the June quarter and expanded the scope of work with two existing clients.
The total number of MTS customers stands at 59 with overall revenue visibility of 298 million USD, the company stated.
CLG business won three new MTS contracts in the life science and healthcare segment. Additionally, it expanded its relationship with two top global tech companies.
Sapnesh Lalla, CEO of NIIT, said, “The Corporate Learning Group and the Skills and Careers Group recorded strong topline growth. Our agile and decisive actions over the last several months have helped the business to continue to create more value for our customers.”
The Skills and Careers Group (SNC) reported net revenue of Rs. 37.8 crore, an increased 62 percent YoY. SNC has successfully transitioned its clients to the NIIT Digital platform. It enabled learners to access their learning plans and all associated content and services digitally.