NIIT Q2 net profit up 3.45% at Rs 12 cr, margin declines

Moneycontrol Bureau

IT training services provider NIIT's second quarter (July-September) consolidated net profit grew 3.45 percent year-on-year to Rs 12 crore.

Consolidated revenues of the company fell 6 percent to Rs 262.4 crore in September quarter from Rs 279.1 crore in a year ago period.

Revenues of division - Corporate Learning Solutions rose 32 percent Y-o-Y to Rs 99.3 crore while Career Building Solutions recorded net revenue of Rs 126.9 crore backed by Cloud-enabled program enrolments of over 13,800.

"Our focus on managed training services as one of the four growth platforms, enabled Corporate Learning Business to achieve a growth of 32 percent, signalling a strong enterprise demand for the offering," Vijay K Thadani, Chief Executive Officer said.

Also Read - Bagged orders worth $84mn in Q2; forex gain at 8%: NIIT Tech

According to a release, the pending order book was USD 53.1 million, 69 percent of which is executable over the next 12 months.

Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) slipped 6.9 percent on yearly basis to Rs 24.3 crore and EBITDA margin declined 9 bps year-on-year to 9.26 percent in the quarter gone by.

At 13:35 hours IST, the stock was trading at Rs 19.95, up 0.50 percent from previous close on the Bombay Stock Exchange.