NIIT Limited announces consolidated results for Q4 and financial year 2021-22
May 24, 2022
New Delhi [India], May 24 (ANI/BusinessWire India): NIIT Limited , a leading global talent development corporation, today reported its results for FY22 and fourth quarter ending March 31, 2022.
FY22 Highlights
Quarter 4 FY22 Highlights
The results were taken on record at the meeting of the Board of Directors held today
Speaking on the company's performance during the quarter and FY22, Vijay K Thadani, Vice Chairman and Managing Director, NIIT Limited said, "FY22 has been a milestone year for NIIT, as we completed 40 years. Both the Corporate Learning Group (CLG) and Skills & Careers (SNC) businesses grew exceptionally well and are poised for their next phase of growth. With a robust balance sheet, differentiated offerings and strong track record of delivering outcomes, NIIT enjoys significant brand trust in the markets it serves."
During the quarter, the Board of Directors approved the Composite Scheme of Arrangement which would result in CLG Business and SNC Business to be reorganized as separate publicly listed companies. The proposed scheme is subject to necessary statutory and regulatory approvals including the approval of the NCLT, SEBI, Stock Exchanges, shareholders and creditors.
Business Highlights:
Corporate Learning Group (CLG) recorded revenues of Rs. 295.7 Cr, up 24 per cent YoY during Q4. Full year revenue for CLG was recorded at Rs. 1131 Cr, up 35 per cent YoY. Revenue visibility stood at $ 328 Mn.
CLG added 3 new global MTS contracts during the quarter, did 2 contract expansions and 1 contract extension. During FY22, CLG signed 16 new MTS customers. The total number of MTS customers stand at 66.
Skills and Careers Business (SNC) recorded Q4 net revenue of Rs. 79.3 Cr. up 97 per cent YoY. For the full year, SNC recorded net revenue of Rs. 246.5 Cr, up 99 per cent YoY. StackRoute & TPaaS grew 137 per cent YoY in FY22, contributing 41 per cent to SNC revenues.
Sapnesh Lalla, CEO and Executive Director, NIIT Ltd. said "FY22 saw NIIT grow 44 per cent YoY and improve its profitability by 456 bps YoY. At a time when talent is at the top of most CEOs agenda, NIIT's customers continue to trust us with their most pressing talent transformation challenges."
During the year, NIIT strengthened its Digital transformation portfolio by adding programs in Data Sciences, AI/ML, Cloud Computing, Cybersecurity and Digital Marketing to meet the accelerating employment growth at GSIs and GCCs, in addition to the digital start-up ecosystem.
During the year NIIT acquired majority stake in RPS Consulting Private Limited, a leading provider of training programs on emerging digital technologies for experienced technology professionals, specifically addressing the needs of Global Systems Integrators and Capability Centers of large multinational companies.
Other highlights of FY22:
-NIIT won the 'Best Skill Learning Company' award at the 11th Annual Indian Education Awards 2021.
-NIIT earned 72 Brandon Hall Awards including 51 awards for Excellence in Human Capital Management and 19 Excellence in Technology awards jointly with customers.
-NIIT was ranked #2 overall among the prestigious HRO Today Baker's Dozen for Learning and Development and named a Leader in the Nelson Hall Learning BPS 2021
-The 5th edition of NIIT India Confluence, a 2-day exclusive, by-invitation only, virtual summit held on Jan 12-13, 2022, saw representation from around 300 companies and 600+ industry participants. Industry mavens, including CEOs, CHROs, and Business Leaders came together to deliberate on the conference's theme of 'Accelerated Learning for Achieving Business Outcomes'.
-NIIT launched - "Talent Leadership Boardroom" initiative to generate leadership conversations on the emerging talent requirements of the industry.
-NIIT earned 3 Learning Technologies Awards and 2 LPI Learning awards including the Gold Learning Giveback award.
-NIIT was featured as a Training Industry Top 20 Company for Learning Services, Custom Content, IT Training and Experiential Learning in 2021.
-NIIT IFBI won the 'Training & Education Excellence Award' at the Quantic India 3rd Annual BFSI Excellence Awards 2021
-NIIT Limited won the ASSOCHAM Award for Building Sales and Service Capability Enabling Business at EduMeet 2021, the flagship event which honours excellence in the education and skills industry.
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