The net profit for NIIT in the second quarter ended September 30 was up 18 percent at Rs 12.7 crore versus Rs 10.8 crore for the same period last fiscal. However, the revenues were down 7 percent at Rs 208.4 crore versus Rs 223.8 crore year on year (YoY). The EBITDA for the quarter came in at Rs 17.8 crore and EBITDA margins stood at 9 percent.
The YoY Q2FY18 corporate learning business revenues were up14 percent in constant currency and corporate learning business margins came in at 16 percent.
Throwing more light on the numbers Vijay Thadani, VC & MD, NIIT said the weaker revenues were due to forex impact.
He said the India based businesses faced two challenges -- one is changes in hiring and training plans of banks and two, the transition to new taxation (GST) impacted revenues. The Skills and Career segment which was impacted due to this is on a recovery path now, said Thadani.
He is confident that the company is on track to meet 15 percent growth guidance for corporate learning business, adding that it was the best quarter for this segment. All these assumes a constant currency.
With regards to online learning, the Training.com Portal grew 25 percent quarter on quarter and is recording decent set of revenues and bookings and its impact will be felt in coming quarters, said Thadani.
NIIT Limited is an Indian Multinational company that offers learning management and training delivery solutions to corporations, institutions and individuals.
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