NIIT Learning Systems net profit rises 23% to Rs 57 crore in Q3

New Delhi: NIIT Learning Systems on Wednesday posted a 23.27 per cent rise in its consolidated profit after tax at Rs 56.7 crore in the third quarter ended December 2023.

The company had posted a PAT (profit after tax) of Rs 46 crore in the same period a year ago, NIIT Learning Systems said in a regulatory filing.

The company's revenue from operations increased by 7.7 per cent to Rs 391.32 crore in the December 2023 quarter from Rs 363.29 crore in the corresponding quarter a year ago.

"Business saw an uptick in sequential growth on the back of continuing addition of new customers and 100 per cent renewals despite compression of spends. We are making a strong commitment to investing in AI for improving the effectiveness of learning interventions and are getting positive responses from our customers," NIIT Learning Systems Limited (NLSL) Executive Director and CEO Sapnesh Lalla said.

NIIT MTS added two new MTS (Managed Training Services) customers during the third quarter of FY'24. At the end of the quarter, the company had 86 active MTS customers with a revenue visibility of USD 348 million, the company statement said.

"Despite the tough environment, the business has shown strong resilience through QoQ growth while maintaining operating margins and achieving strong profit growth," NLSL vice chairman and managing director Vijay K Thadani said.

NIIT Learning Systems Limited (NIIT MTS) offers managed training services to market-leading companies across 30 countries. The services include custom content and curriculum design, learning delivery, learning administration, strategic sourcing, and learning technology, among others.