NIIT Ltd reports consolidated PAT of Rs. 51.43 crores in 1QFY22

NIIT LTD. has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.315.30 crores during the period ended June 30, 2021 as compared to Rs.284.91 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.51.43 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.46.51 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.3.68 for the period ended June 30, 2021 as compared to Rs.3.21 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 315.30 crs	₹ 284.91 crs	10.67%
Net Profit	₹ 51.43 crs	₹ 46.51 crs	10.58%
EPS	₹ 3.68	₹ 3.21	14.64%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.315.30 crores during the period ended June 30, 2021 as compared to Rs.237.71 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.51.43 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.28.96 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.3.68 for the period ended June 30, 2021 as compared to Rs.2.04 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 315.30 crs	₹ 237.71 crs	32.64%
Net Profit	₹ 51.43 crs	₹ 28.96 crs	77.59%
EPS	₹ 3.68	₹ 2.04	80.39%

Speaking on the occasion, Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited said, "NIIT delivered robust revenue growth of 49% YoY and healthy profitability to capitalise on the emerging opportunities, amidst resurgence of the pandemic, thus demonstrating continued resilience to adverse environment conditions".

Corporate Learning Group (CLG) recorded revenues of Rs. 263.3 Cr, up 47% YoY during Q1.

During the quarter, CLG signed 3 new MTS contracts, and expanded the scope of work with 2 existing customers. The total number of MTS customers stand at 59 with an overall revenue visibility of $298 Mn. CLG won three new MTS contracts in the life sciences and healthcare segment and expanded its relationship with two global technology majors.

Commenting on the Quarter, Sapnesh Lalla, CEO, NIIT Limited said, "Both the Corporate Learning Group and the Skills and Careers Group recorded strong topline growth. The agile and decisive actions we took over the last several months have enabled the business to continue to create more value for our customers".

Skills & Careers Group (SNC) recorded net revenue of Rs. 37.8 Cr, up 62% YoY during Q1. SNC has successfully transitioned its customers to the NIIT Digital platform and through this, learners are able to access their learning plans and all associated content and services digitally.

During the quarter NIIT Digital launched programs in Cloud Computing & Cybersecurity to meet the demand for job roles in the digital sector. NIIT Digital also announced the launch of Data Science Foundation Program and Advanced Post Graduate Program (PGP) in Data Science and Machine Learning, to create Day 1 industry-ready Certified Data Science professional.

NIIT entered into a partnership with Sushant University, one of the leading education institutions situated in Gurugram, to offer their upcoming batches of Bachelors in Computer Applications (BCA) and Bachelors in Technology (B Tech) in Computer Science, specializations in Banking & Finance, and StackRoute – Full Stack Product engineering respectively.

For the quarter NIIT Institute of Finance Banking and Insurance (NIIT IFBI) and Axis Bank launched a FinTech Professional Programme under the Axis Bank - NIIT Digital Banking Academy. The course is designed to build future ready FinTech Professionals for Axis Bank.

A leading global retailer signed up with StackRoute, an NIIT venture, for building data science capabilities for its analytics team based in India. A large global IT services organization also signed up with StackRoute to build capabilities on hybrid cloud across application development and infrastructure management.

Shares of NIIT LTD. was last trading in BSE at Rs. 333.5 as compared to the previous close of Rs. 311. The total number of shares traded during the day was 162775 in over 5089 trades.

The stock hit an intraday high of Rs. 338.75 and intraday low of 309.85. The net turnover during the day was Rs. 53398628.

Source : Equity Bulls

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