NIIT’S NET REVENUE WAS UP 4% TO RS209.4 CRORE IN THE THIRD QUARTER OF 2017-18, FROM RS 202 CRORE IN THE YEAR- AGO PERIOD - Soul 2 Soul Mates Blog

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1/23/2018

NIIT’S NET REVENUE WAS UP 4% TO RS209.4 CRORE IN THE THIRD QUARTER OF 2017-18, FROM RS 202 CRORE IN THE YEAR- AGO PERIOD

NIIT’S NET REVENUE WAS UP 4% TO RS209.4 CRORE IN THE THIRD QUARTER OF 2017-18, FROM RS 202 CRORE IN THE YEAR- AGO PERIOD
New Delhi: Talent and skills development company NIIT on Tuesday said its consolidated net profit has jumped 350% to
Rs19.7 crore for the December 2017 quarter on the back of strong growth in corporate learning business.
NIIT’s net profit stood at Rs4.4 crore in the year-ago period. Its net revenue was up 4% to Rs209.4 crore in the third quarter of 2017-18, from Rs202 crore in the year- ago period.
December 2017 quarter, NIIT had 3,741 employees.

“A robust and continuing growth in Corporate Learning Group (CLG) coupled with strong operational controls in other businesses, resulted in 8% year-on-year growth in go-forward business in constant currency terms, and a 69% y-o-y growth in EBITDA, despite it being the weakest seasonal quarter,” NIIT CEO Sapnesh Lalla said.
December 2017 quarter, NIIT had 3,741 employees.

CLG recorded net revenue of Rs129.4 crore in the said quarter, up 14% year-on-year in constant currency terms.
Skills and Careers Group (SNC) recorded net revenue of Rs69.1 crore, while MindChampion Learning Systems (MLSL) posted a net revenue of Rs9.2 crore during the quarter.

The company renewed a marquee MTS contract, resulting in revenue visibility of $199 million. At the end of the READ MORE ON:

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