NIIT Limited reported a strong Q2 FY23 performance with significant revenue growth and strategic investment in KNOLSKAPE Solutions, bolstering its position in the talent development sector.

Target Information

NIIT Limited (NSE: NIITLTD), a prominent global talent development corporation headquartered in New Delhi, has reported its consolidated financial results for the second quarter ending September 30, 2022. The company achieved a net revenue of Rs. 392.2 Cr, reflecting a 24% year-over-year increase. It also reported an EBITDA of Rs. 56 Cr and a profit after tax of Rs. 39.6 Cr, translating to an earnings per share (EPS) of Rs. 2.9.

This quarter witnessed significant growth in the Skills & Careers Group (SNC), which recorded a remarkable 119% increase in revenue year-over-year. The Corporate Learning Group (CLG) also showcased a solid performance, maintaining a 100% renewal track record alongside the addition of three new Managed Training Services (MTS) customers.

Industry Overview

The talent development industry in India is experiencing rapid growth, driven by the ongoing digital transformation across various sectors. With companies increasingly focusing on upskilling and reskilling to meet the demands of the m