NIIT Ltd bounces back to profits in quarter; revenue rises to Rs 225.3 crore

Written by PTI | New Delhi | Updated: Jul 23 2014, 23:34pm hrs
WorkingThe company had registered a net loss of Rs 9.4 crore in the year-ago period.(Thinkstock)
IT training solutions firm NIIT Ltd today 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.

NIIT Ltd'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 USD 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.