New Delhi: In the June 2024 quarter, NIIT Learning Systems reported an increase of 8.75 percent in its consolidated net profit to Rs 60 crore compared to the previous year. NIIT Learning Systems (NIIT MTS) recorded a profit of Rs 55.17 crore in the previous year.
The net revenue for this quarter was Rs 407.22 crore, showing a 6.5 pc increase from Rs 382.34 crore in the same period last fiscal year. NIIT MTS shows incredible resilience in an unpredictable and unstable environment. Vijay K Thadani, Vice Chairman & Managing Director at NIIT MTS, stated that the company is leading in using GenAI to enhance the effectiveness and efficiency of our customers' L&D function.
In consecutive order, there was a 10.25 per cent increase in net profit and a 2.3 per cent increase in revenue. Its EBITDA increased by 11 percent to reach Rs 102.4 crore. NIIT MTS CEO Sapnesh Lalla mentioned in the earnings press conference that the company secured three additional MTS agreements in Q1, with two in technology and one in life sciences, raising the total number of MTS customers to 89.
"During the first quarter of FY25, NIIT MTS maintained strong growth." We have sped up acquiring new customers and maintained a 100 pc renewal rate. He expressed enthusiasm for the great potential GenAI offers to customers and mentioned seeing initial outcomes. In the first quarter of FY25, the company had a total of 2,358 employees. NIIT MTS stocks were up by 1.45 pc trading at Rs 474.45 each on the BSE.
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