NIIT is looking to develop talent that is job ready
The company also signed letter of intent (LOI) with four new customers and expect some to result into contracts shortly, said Sapnesh Lalla, CEO, NIIT.
In a move to expand its corporate learning portfolio, NIIT has entered into a strategic partnership with Up! Your Service.
In an interview to CNBC-TV18, Vijay Thadani, VC & MD of NIIT spoke about the results and his outlook for the company.
"Around this time, we are entering our growth phase and that is going to be my agenda to get NIIT started on a growth plan something similar to what we have been able to achieve in the corporate group", Sapnesh Lalla, CEO Designate of NIIT and Business Head of NIIT Corporate Learning Group told CNBC-TV18.
In an interview to CNBC-TV18, Vijay Thadani, VC & MD of NIIT spoke about the results and his outlook for the company.
The net debt fell to Rs 91 crore, an improvement by 30 percent. The decline was due to substantial payments from government schools. Patwardhan expects debt to remain on a downward trend for the next two quarters.
Such acquisitions will help in accelerating the company's digital transformation. NIIT wants to create a full-fledged tech enabled learning ecosystem for its clients, says Udai Singh, Head Of New Business Initiative, NIIT.
Rahul Patwardhan clarified that in the constant currency basis, the revenues from the CLG business for the first quarter of FY17 rose by 13 percent. The 19 percent rise in revenues is in rupee terms. He maintains a guidance of 15 percent for Q2 of FY17.
This Joint Venture comes with China government's initiatives to improve the country's skill base considering its slow decline in GDP primarily in the manufacturing sector, says Patwardhan.
edX currently has 730,000 learners who have subscribed to its online education facility. Patwardhan expects this number to increase to 5 million in 3 years following the tie-up.
NIIT's Vice-chairman and Managing Director Vijay Thadani is confident that the company will perform better in FY17. He expects NIIT's Corporate Learning Group to maintain 15 percent growth rate on the back volatility in exchange rates.
We remain an important part of the government‘s SkillIndia and Start-Up India initiatives, where our products and services have high degree of relevance, says Vijay Thadani, Vice Chairman and MD of NIIT Ltd.
NIIT reported a stellar numbers in the September quarter aided by strong growth in all international geographies. Its net profit jumped 102 percent year-on-year to Rs 20.8 crore
The Citi order win will help the company sustain the current growth rate or even help better it, said Rahul Patwardhan, CEO, NIIT.
In an interview to CNBC-TV18, Ninad Karpe, CEO & MD of Aptech discussed government related schemes and also spoke about company's future prospects.
In an interview to CNBC-TV18, NIIT chief executive officer Rahul Patwardhan shares his views on the company's Q1 growth.
Rahul Keshav Patwardhan, CEO, NIIT, expects the company to do better on the bottomline next year. He also sees USD 190 million revenue visibility over five years.
In an interview with CNBC-TV18, Rajendra S Pawar, Chairman of NIIT discusses the restructuring that the company underwent last year and its future plans.
The consolidated revenue of NIIT was around Rs 248.2 crore versus Rs 233.6 cr from a year ago period.
NIIT‘s school business forms over 16 percent of revenue, which will be transferred to HIWEL, its existing wholly owned subsidiary, says Vijay Thadani, CEO, NIIT.
Vijay Thadani, CEO, NIIT says they are downsizing the government part of their school business but private school business is growing. The non-government business is now 59 percent versus 51 percent earlier.
NIIT Technologies first quarter net profit fell by 6 percent quarter-on-quarter. Rajendra S Pawar, Chairman, NIIT expects second quarter revenues to improve.
Even though revenues have dropped, Vijay Thadani, CEO of NIIT says three out of four businesses have done exceptionally well.
Vijay Thadani, CEO, NIIT explains to CNBC-TV18 that the though the company performed well on a fundamental basis, it has been adversely affected by the slowdown in the hiring process in the IT sector.