NIIT MTS net profit rises to ₹60 crore in June quarter

NIIT Learning Systems on Thursday reported an 8.75% year-on-year rise in its consolidated net profit to ₹60 crore in the June 2024 quarter.

NIIT Learning Systems (NIIT MTS) reported a net profit of ₹55.17 crore in the year-ago period.

Net revenue for the quarter under review came in at ₹407.22 crore, up 6.5% from ₹382.34 crore in the corresponding period of the previous fiscal.

"NIIT MTS continues to demonstrate remarkable resilience in a volatile and uncertain environment. The company has taken the pole position in the application of GenAI for improving the effectiveness and efficiency of the L&D function of our customers," Vijay K Thadani, Vice Chairman & Managing Director at NIIT MTS, said.

Seen sequentially, net profit and revenue saw a rise of 10.25% and 2.3%, respectively.

Its EBITDA (earnings before interest, taxes, depreciation and amortisation) rose 11% to ₹102.4 crore.

NIIT MTS CEO and executive director Sapnesh Lalla, during the earnings press conference, said the firm added three new MTS contracts during Q1, two in technology and one in life sciences, bringing the company's MTS customer tally to 89.

"In Q1 FY25, NIIT MTS continued to see resilient growth. We have accelerated new customer additions and have retained our track record of 100% renewals. We are excited about the immense opportunity that GenAI creates for our customers and are starting to see early results," he said.

The company's headcount stood at 2,358 in the first quarter of FY25.

Shares of NIIT MTS were trading 1.45% higher at ₹474.45 apiece on the BSE.