NIIT Limited, a skills & talent development corporation, on Tuesday posted its second quarter results for FY24 with profit at Rs 10.64 crore, up 124.9 per cent in comparison to Rs 4.73 crore during the second quarter of FY23. It posted revenue from operations at Rs 81.41 crore, down 13.4 per cent as against Rs 94.04 crore during the same period last year. The company also declared an interim dividend of Rs 0.50 per equity share of face value of Rs 2 each fully paid-up for the financial year 2023-24. It posted Q2 EBITDA at Rs 2.20 crore.
NIIT Ltd said that StackRoute, TPaaS and BFSI contributed to 69 per cent QoQ growth in enrolments. During this quarter, NIIT Ltd said it integrated Generative AI in its Full Stack Software Engineering, Data Science and Digital Marketing programs and also introduced special programs in AI to equip learners with the new age skills required in today’s rapidly evolving job roles.
Vijay K Thadani, Vice Chairman & Managing Director, NIIT Limited, commented, “The company has been able to achieve strong growth sequentially driven by 69 per cent growth in enrolments and expansion across Technology and BFSI customers. The company continues to expand its reach and product portfolio including investments in AI.”
The company also re-launched its Post Graduate Programme in Banking and Finance – Sales and Relationship Management with changes in curriculum as per the industry needs. The programme has been specially designed by NIIT IFBI to transform fresh graduates into confident Banking and Finance professionals.
Rajendra S Pawar, Chairman and Co-Founder, NIIT Group, said, “NIIT has played a pivotal role as talent builders for the nation, especially in the technology sector over the last 4 decades. With the accelerating pace of transformation across industries, we are excited about the opportunity ahead to recreate this impact across multiple sectors including technology and BFSI industries.”