LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

NIIT net profit jumps 350%

The company attributes continuing growth in Corporate Learning Group coupled with strong operational controls in other businesses for the rise in profit

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
 NIIT net profit jumps 350%
The company's share, however, closed 1.19% down at 108.15 on the BSE. Image source: Company website
Written By: ZeeBiz WebTeam
Updated: Tue, Jan 23, 2018
05:41 pm
ZeeBiz WebDesk
RELATED NEWS
 Rs 2,627 crore deal: Baring Private Equity Asia to acquire 30 percent stake in NIIT Tech Rs 2,627 crore deal: Baring Private Equity Asia to acquire 30 percent stake in NIIT Tech

NIIT Ltd, a global skills and talent development company, today reported a 350% jump in its consolidated net profit of Rs 19.7 crore year on year (YoY) in the third quarter of FY18.
 
The company attributed continuing growth in Corporate Learning Group coupled with strong operational controls in other businesses for the rise in profit.
 
The net revenue for the quarter rose 4% to Rs 209.4 crore while earnings before interest, taxes, depreciation, and amortisation (EBITDA) was recorded at Rs 18.4 crore, up 69% YoY. Net debt was recorded at Rs 41.9 crore. 
 
Speaking on the company's performance during the quarter Sapnesh Lalla, CEO of NIIT Ltd, said, "A robust and continuing growth in Corporate Learning Group coupled with strong operational controls in other businesses, resulted in 8% YoY growth in go forward business in constant currency terms, and a 69% YoY growth in EBITDA, despite it being the weakest seasonal quarter."
 
Corporate Learning Group (CLG) recorded a net revenue of Rs 129.4 crore, up 14% YoY in constant currency terms. It renewed a marquee MTS contract resulting in revenue visibility of $ 199 million, up 44% YoY from 38 MTS customers. 
 
NIIT acquired Eagle Productivity Solutions, a top-rated global provider that specialises in training solutions for companies adopting sophisticated cloud-based applications in the pharmaceutical and life sciences industry.
 
The acquisition will help NIIT expand its training capability for global rollout of cloud-based enterprise applications in the pharmaceutical and life sciences industry, a company statement said. 
 
"We are proud to have consolidated net profitas part of the NIIT family. They bring deep expertise in pharmaceutical & life sciences segment. Its unique capability enables enterprises to successfully roll out applications and processes achieving over 90% adoption rates", added Lalla. 
 
In this quarter, NIIT also entered into a strategic partnership with UP! Your Service, the global leader in creating cultures of service excellence worldwide, to expand its Corporate Learning portfolio to deliver internal and external cultures of Service Excellence. Through this tie-up, NIIT aims to create a huge difference in the way organisations work to create value for their customers and colleagues. 
 
Skills & Careers Group (SNC) recorded net revenue of Rs 69.1 crore during Q3 on an EBITDA of Rs 1.8 crore. 
 
Speaking on the occasion, Prakash Menon, President, global retail business (GRB), said, "Strong operational control measures together with new age curriculum like training in Blockchain technology, helped drive momentum for the business". 
 
During the quarter, Training.com in association with IIM Calcutta, announced the second batch of the Advance Program in Data science. Since the launch of the platform in October 2016, Training.com has generated more than 9 million visitors.
 
Training.com has built a portfolio of over 160 advanced courses including programs in Digital Marketing, Technology, Data Science and Applied Finance from premium institutions including IIM-C, Microsoft and Digital marketing institute, the statement said.
 
MindChampion Learning Systems Limited (MLSL) registered net revenue of Rs 9.2 crore during the quarter. It signed 85 private school contracts in Q3, up 67% YoY.
 
The company's share, however,  closed  1.19% down at 108.15 on the BSE.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
NIIT Ltdnet profitprofit after tax (PAT)consolidated net profitCorporate Learning Group
RELATED NEWS
 Rs 2,627 crore deal: Baring Private Equity Asia to acquire 30 percent stake in NIIT Tech Rs 2,627 crore deal: Baring Private Equity Asia to acquire 30 percent stake in NIIT Tech

LATEST NEWS

Havells India Share price: Buy rating on Havells India with price target of Rs 1190 - know key risks

7th Pay Commission: DA, TA, DR, salary hike—what central government employees and pensioners must know

Indian Pro Music League Grand Opening: Salman Khan's 'mega selfie' on world's biggest music league with Riteish Deshmukh, Genelia D'Souza, Shraddha Kapoor, others now viral on social media

Hot Money Tip! Get Rs 5000 monthly pension for just Rs 7 per day; Check this APY chart

Realme 8 Series with huge 108MP camera coming soon in India - Here's all you need to know!

7th Pay Commission: Salary up to Rs 1.77 lakh plus DA, HRA; check details at nta.nic.in - Delhi University Recruitment 2021

Gold Price outlook: After record highs of around Rs 56191 and closing the year with 28% gains, here is what has happened now

PUBG Mobile 1.3 beta update: APK download link for global version - Check all details here!

Indian Army Recruitment Rally 2021: Recruitment for various posts to be held at Alwar: See where to apply

Vodafone Idea: Vi brings Wi-Fi calling service in Delhi | Check full list of phones

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved