NIIT bounces back to profits; revenue rises to 225 crore

July 23, 2014 04:49 pm | Updated 04:49 pm IST - New Delhi

IT training solutions firm NIIT Ltd on Wednesday said it has posted a net profit of about Rs. 60 lakh for the quarter ended June 30, 2014.

The company had registered a net loss of Rs. 9.4 crore in the year-ago period.

The company’s consolidated revenue grew 1.39 per cent to Rs. 225.3 crore in the April-June 2014 quarter as against Rs. 222.2 crore in the same period last fiscal.

“The growth has been driven by the momentum in Corporate Learning Solutions (CLS) that grew 32 per cent year-on-year, backed by a strong growth in MTS offerings,” NIIT Chief Executive Officer Vijay K. Thadani said.

The customised training solutions for corporates (MTS or Managed Training Services) has continued to gain strong acceptance by the industry, leading this growth, he added.

CLS revenue stood at Rs. 111.3 crore. The overall CLS revenue visibility stood at $180.1 million, up 25 per cent y-o-y.

Career Building Solutions (CBS) recorded net revenue of Rs. 72.6 crore during the Q1 FY’15. Over 6,600 students were placed into jobs in Q1 alone.

“With the economy showing a promise of growth and the IT companies putting up a good performance, the market response for our new courses like ‘ReVOLUTION GNIIT’ is expected to step up further,” he said.

During the quarter, School Learning Solutions (SLS) posted net revenue of Rs. 39.4 crore with the addition of 129 private schools to the portfolio. Under SLS, NIIT trained 3,572 teachers and school principals.

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