(PTI) Talent development corporation NIIT Ltd on Friday reported 24.5 per cent year-on-year drop in its consolidated net profit for the July-September quarter at ₹39.6 crore.
Its revenue from operations for Q2FY23 came in at ₹392.2 crore, rising 24.3 per cent over the same period of previous year, as per a BSE filing by the company.
In a statement, NIIT Limited Vice Chairman and Managing Director Vijay Thadani said, "In the backdrop of a turbulent macro environment, the overall revenue growth and new contract additions while maintaining a 100 per cent renewal track record, demonstrates the trust NIIT enjoys among its global customer base."
The recent investment in KNOLSKAPE is in line with NIIT's stated strategy to deploy its growth capital for expanding its capability set and strengthen its market position, Thadani added.
Corporate Learning Group (CLG) recorded a net revenue of ₹300.4 crore, up 10 per cent year-on-year. CLG added 3 Managed Training Services or MTS customers contracts and signed 3 contract renewals during the quarter.
The number of MTS customers stands at 70 and revenue visibility for CLG, at the end of the quarter, was at USD 305 million.
The Skills and Careers Group (SNC) recorded net revenue of ₹91.8 crore during Q2, up 119 per cent year-on-year, aided by growth in its flagship offerings of StackRoute and TPaaS as well as RPS consulting which continues to scale its operations.
"This quarter saw NIIT Institute of Finance, Banking and Insurance (NIIT IFBI) entering into new partnerships with leading financial institutions, including HDFC Bank and Bajaj Finserv, thus consolidating its position as the leading provider of large-scale, job-ready pool of talent for the BFSI (Banking, financial services and insurance) industry," the company statement added.