The consolidated revenue of NIIT was around Rs 248.2 crore versus Rs 233.6 cr from a year ago period.
In an interview to CNBC-TV18, Vijay Thadani, CEO, NIIT shares his view on Q3 earnings and his business outlook for the company.The company reported a consolidated net profit of Rs 1.8 crore against Rs 1.2 Cr year-on-year. The consolidated revenue of NIIT was around Rs 248.2 crore versus Rs 233.6 cr from a year ago period.
Below is the verbatim transcript of the interview:
Q: The revenue run rate is still muted at Rs 248 crore, it works to 7 percent. What can you guide in terms of a revenue growth for the next quarter and for the next year?
A: Yes, so I have to paraphrase this with the two important statements. One, it's a seasonally weak quarter for us historically and from last 33 years quarter 3 is our weakest quarter. So it is a weak quarter.
Second in this particular quarter we have been focusing on a major business transformation program so another way of looking at the same result is that it is after many quarters some parts of our business is a challenge. This quarter we have a 6 percent growth which is aided by a very strong growth in corporate learning solutions and has been escalating much ahead of projections and so, a 28 percent growth in corporate learning solutions and with the strong margin as well as a strong order intake that they got is the highlight of the quarter.
Also, private schools have got a very good order intake of 41 percent growth in their order intake. So those are some of the contributors.
Our focus has also been on improving our balance sheet and the net profit improvement which you see is also contributed to a large extent through the reducing interest cost as well as improved liquidity as well as capital efficiency which is been visible.
Going forward, our focus is on business transformation and that business transformation is to prepare the organisation for the next phase of growth. We also have a succession plan in implementation and the timing could not have been better because it is the new team which is working on this whole business transformation case.
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