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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 an interview to CNBC-TV18, Vijay Thadani, VC & MD of NIIT spoke about the results and his outlook for the company.
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.
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.
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
In an interview to CNBC-TV18, NIIT chief executive officer Rahul Patwardhan shares his views on the company's Q1 growth.
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.
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.
After reporting a consolidated net profit of Rs 26 crore for the fourth quarter of FY12, up 30% from a year ago period, NIIT is hopeful of maintaining its good performance.
Speaking to CNBC-TV18, Vijay Thadani, CEO of the company said the quarter has been fairly decent in terms of volume growth.
In an interview with CNBC-TV18, Rajendra S Pawar, Chairman of NIIT Technology talks about the company's second quarter result. He also outlines the company’s growth trajectory further ahead.
Reporting a rise in revenues of 16% in the first quarter results for FY12, NIIT is looking forward to a better second half backing on new initiatives. “The second half of this year should see an uptick due to the combination of many services that have begun kicking in,” says Rajendra S Pawar, chairman of NIIT.
Emkay Global Financial Services has come out with its earning estimates on IT sector for the quarter ended March 2011. According to the research firm, NIIT quarter sales are expected to go up by 9% at Rs 326.7 crore, quarter-on-quarter, (QoQ) basis.
The individual learning business of NIIT is the most established part of their establishment. Rajendra S Pawar, chairman of NIIT in an interview on CNBC-TV18 sees the individual learning business further improving their double digit numbers by going higher. “We are also looking at new avenues in this space,” he adds.