NIIT has raised guidance for corporate learning group to mid-30 percent from mid-20 percent, Vijay Thadani, vice chairman and managing director, told CNBC-TV18. He also mentioned that going ahead, the company expects margin of over 20 percent.
NIIT has raised guidance for corporate learning group to 30 percent plus from mid-20 percent, Vijay Thadani, vice chairman and managing director, told CNBC-TV18.
Skills and talent development company NIIT Ltd, on Wednesday, said its consolidated net profit has more than doubled to Rs 52.4 crore in the September 2021 quarter. The company had registered a net profit of Rs 26 crore in the year-ago period. Net revenue was higher by 44 percent at Rs 314.2 crore in the quarter under review compared to Rs 218.9 crore in the year-ago period. EBITDA also surged by 115 percent and there is margin expansion as well.
“We have upped the guidance for corporate learning group from the mid-20s to 30 percent plus and margins are stabilising at mid-20s in the corporate learning
group. We are also upping the guidance for skill and careers and it’s at the cusp of a major take-off,” Thadani said.
On orderbook, he said, “We use the term visibility in our corporate learning business. So with the addition of 6 new Managed Training Services (MTS) contracts, which by itself is a record, we are now at 63 MTS contracts and USD 294 million of revenue visibility.”
(With inputs from PTI)
For the entire management interview, watch the video
(Edited by : Dipikka Ghosh)
First Published: Nov 11, 2021 10:45 AM IST