NIIT Ltd. Reports Unaudited Standalone Earnings Results for the Third Quarter and Nine Months and Consolidated Earnings for the Third Quarter Ended December 31, 2013
January 17, 2014 at 04:02 am
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NIIT Ltd. reported unaudited standalone earnings results for the third quarter and nine months and consolidated earnings for the third quarter ended December 31, 2013. For the quarter, on standalone basis, the company reported net sales/income from operations of INR 1,144.3 million against INR 1,458.4 million a year ago. Loss from operations before other income, finance costs & exceptional items was INR 149.9 million against INR 172.5 million a year ago. Loss from ordinary activities before tax was INR 166.4 million against profit of INR 4.8 million a year ago. Net loss was INR 150.5 million or INR 0.91 per basic and diluted share against INR 29.9 million or INR 0.18 per basic and diluted share a year ago.
For the nine months, on standalone basis, the company reported net sales/income from operations of INR 3,861.3 million against INR 4,921.4 million a year ago. Loss from operations before other income, finance costs & exceptional items was INR 438.6 million against INR 283.8 million a year ago. Loss from ordinary activities before tax was INR 295.9 million against profit of INR 8.5 million a year ago. Net loss was INR 330.8 million or INR 2.00 per basic and diluted share against INR 26.7 million or INR 0.16 per basic and diluted share a year ago.
For the quarter, on consolidated basis, the company net revenue was INR 2,336 million compared to INR 2,327 million a year ago. EBITDA was INR 143 million compared to INR 77 million a year ago. Profit after tax was INR 12 million compared to INR 5 million a year ago.
NIIT Limited is an India-based information technology services company. The Company is engaged in providing skills and talent development solutions to individuals, enterprises, and institutions. The Company provides a range of managed training services, which includes curriculum design and custom content development, learning delivery, learning administration, strategic sourcing, learning technology and advisory services. The Company provides specialized solutions, which include customer education, gamification, augmented reality and virtual reality, application rollouts, content curation and learner engagement and talent pipeline as a service. It offers content development, with capabilities that include gaming and simulation, two-dimensional (2D) and three-dimensional (3D) animation, and high-end video. Its content curation solution uses a process-driven approach with structured learning pathways designed to filter content to the learner in a phased manner.
NIIT Ltd. Reports Unaudited Standalone Earnings Results for the Third Quarter and Nine Months and Consolidated Earnings for the Third Quarter Ended December 31, 2013