NIIT Foresees New Deals To Aid Revenue In Second Half Of FY20
Thadani also pegged revenue growth of the company’s corporate learning vertical at 15-20 percent in the current fiscal.
NIIT Ltd. expects its five managed-training services contracts signed in the quarter ended March to result in higher revenue in the second half of the current financial year.
“The new signings bring our total tally of MTS customers to 46 now and revenue visibility of $245 million dollars,” its Vice Chairman and Managing Director Vijay Thadani told BloombergQuint in an interview. “Many of these contracts will convert into revenue in the second half of the year resulting in higher revenue swing.”
Thadani also pegged the corporate learning vertical’s revenue growth at 15-20 percent in FY20. The company announced its March quarter results on Saturday.
Key Highlights: (YoY)
- Revenue rose 8 percent to Rs 239.7 crore.
- Ebitda jumped to 6 percent to Rs 23.4 crore.
- Net Profit increased 18 percent to Rs 23.2 crore.
- Corporate learning group revenue rose 9 percent to Rs 158.8 crore.
- Board announced a dividend of Rs 5 per share.
Shares of NIIT fell as much as 4.6 percent to Rs 97.50 in today’s trade compared with a 0.4 percent gain in the Nifty Index.