NIIT declares consolidated results for Q4

NEW DELHI, INDIA: NIIT Limited today declared its consolidated results for the fourth quarter; ended March 31, 2012. The company recorded profit after tax for the year at Rs. 110.2 crore representing a 19 per cent growth YoY on annual net revenue of Rs. 1260.3 crore, said a press release.

During the quarter the company's net revenue stood at Rs. 305.2 crore and the profit after tax was recorded at Rs. 26.2 crore. The EBITDA was at Rs. 35.7 crore reflecting a margin of 12 per cent.

NIIT divested its stake in Element K for a cash consideration of USD 110 million, during the year. The total net debt in balance sheet stands reduced by Rs. 295.5 crore.

The results were taken on record at the meeting of the board of directors today. The board also proposed a dividend of 80 per cent.

Commenting of the company's performance Rajendra S Pawar, chairman, NIIT Limited said, ''Our focus on the four growth platforms unveiled at the beginning of the year and capital efficiencies, has led to an improved EPS and a strong balance sheet.''

''We continue to scale-up our focus on the four platforms- NIIT Cloud Campus, Vocational Skills Training (in association with NSDC), Managed Training Services and Solutions for Schools - to drive the next phase of growth for NIIT,'' added Vijay Thadani, CEO, NIIT Limited.

Individual Learning Solutions recorded net revenue of Rs. 152.2 crore, up 14 per cent YoY during Q4, with enrolments growing by 8 per cent YoY. Short term diploma programs registered a growth of 11 per cent during the year.