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NIIT Ltd.: Disappointing performance - Views on News from Equitymaster

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NIIT Ltd.: Disappointing performance
Jul 20, 2013

NIIT Limited announced the first quarter results for the financial year 2013-2014 (1QFY14).The company's net sales declined by 0.7% YoY. While the net profit declined by 181% YoY.

Performance summary
  • Consolidated net sales showed a negative growth of 0.7% YoY. That was primarily because of the de-growth of 12% YoY in the largest business segment, viz. Individual Learning Solutions (ILS).
  • Operating margins showed a continuing declining trend and dropped by 0.4% YoY during the quarter. However, the decline was less severe than last few quarters because of cost containment.
  • 'Other Income' stood at - Rs 81m in 1QFY14 as compared to - Rs 276 m in 1QFY13. Before considering the contribution from associates, net loss of NIIT Ltd stood at Rs 220 m in 1QFY14 as compared to a loss of Rs 24 m in 1QFY13. Profit from associate, NIIT Technologies continued to have a positive impact on the net profit of NIIT Ltd. However, it could not restrict NIIT from reporting a net loss of Rs 92 m as compared to a net profit of Rs 114 m seen during 1QFY13.
  • The total headcount reduced by 45 on a QoQ basis and stood at 3,279 as at the end of 1QFY14.

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Jul 20, 2018 12:05 PM

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