NIIT Learning Systems reported fiscal fourth quarter profit at Rs 54.44 crore, marginally higher than Rs 53.94 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 397.91 crore, up 3.2 per cent on-year as against Rs 385.68 crore during the same quarter of previous fiscal year. EBITDA for the quarter was at Rs 99.5 crore.
While the total income recorded by the company during Q4FY24 was at Rs 407.85 crore, total expenses incurred during the quarter ended March 31, 2024 stood at Rs 323.97 crore. During the quarter, the company added 1 new MTS customer, signed 3 renewals and expanded scope of 1 contract.
The company recommended a final dividend of Rs 2.75 per equity share of the face value of Rs 2 per equity share of the company for the financial year 2023-24.
For the full financial year, the company recorded consolidated net revenue of Rs 1553.5 crore, up 14 per cent YoY. EBITDA was at Rs 376.2 crore, up 19 per cent YoY while EBITDA Margin stood at 24 per cent.
The company added 11 global Managed Training Services (MTS) contracts during FY24 and expanded scope of 2 existing contracts. In addition, the company renewed 11 contracts during the year, retaining its track record of 100 per cent renewals. The company ended the year with 87 MTS customers and revenue visibility of USD 335 million.
During the financial year, NIIT MTS set up the GenAI Factory under the leadership of Chief Learning Scientist, Dr Gregg Collins, with a team of over 50 seasoned AI experts.
Vijay K Thadani, Co-founder, NIIT and Vice Chairman & Managing Director, NIIT MTS, said, “Business has demonstrated resilient growth with improved margins during the year. We are excited about the potential that GenAI offers in improving efficiency and effectiveness of training and we are investing in creating solutions that leverage this opportunity to bring increased value to our customers.”