The skills and talent development company's net profit stood at Rs 1.8 crore for the quarter ended December 31, 2014
NIIT on Wednesday reported over seven-fold jump in its consolidated net profit at Rs 13.7 crore for the December quarter on the back of a strong turnaround post restructuring.
The skills and talent development company's net profit stood at Rs 1.8 crore for the quarter ended December 31, 2014.
The revenue grew 6% to Rs 262.3 crore in the said quarter from Rs 248.2 crore in the year-ago period.
"Our Global Corporate Training Outsourcing is growing steadily. Our Skills and Careers Business Transformation programme is also continuing to deliver improved outcomes, leading to NIIT's overall year-on-year revenue growth rate consistently improving for the third successive quarter," NIIT Chief Executive Rahul Patwardhan said.
Also read: NIIT Tech Q3 net profit up 54% to Rs 74.2 crore on improved tax rates
He added the Corporate Learning group grew 17% YoY, contributing 60% to NIIT revenue. The group recorded net revenues of Rs 158.6 crore during the quarter.
It added one new managed training services (MTS) customer in the reported quarter, taking the total number of customers to 27, with a revenue visibility of $195 million for CLG.
"Also, 70% of the company's revenues come from international markets. China, Nigeria and Indonesia are our top markets," Patwardhan said.
In order to power the growth of the Managed Training Services business in the Indian market, NIIT has appointed Amit Kaul as National Business Development Head, Corporate Learning India during the quarter.
At the end of the quarter, NIIT had about 6,000 employees.
Skills and Careers Group (SNC) recorded a net revenue of Rs 82.8 crore during the third quarter, up 3% YoY. It contributed 32% to NIIT revenue in the said quarter.
MindChampion Learning Systems Limited registered a net revenue of Rs 20.9 crore during the quarter.
NIIT hived off its K-12 School Learning business into a wholly-owned subsidiary called - MindChampion Learning Systems Limited and appointed Gavin Dabreo as the CEO.
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