New Delhi, January 20, 2012: NIIT Limited, leading Global Talent Development Corporation and Asia's largest IT trainer, today reported its results for the quarter ending December 31, 2011. The company recorded Profit after Tax of Rs. 40.7 Cr representing a 215% growth YoY in this quarter.

The company's Net Revenue stood at Rs. 250.1 Cr and the System-Wide Revenue was recorded at Rs. 395.5 Cr. The EBITDA was at Rs. 25.1 Cr reflecting a margin of 10%.

During the quarter, NIIT divested its stake in Element K (which was acquired for USD 36.5 Mn in 2006), for a cash consideration of USD 110 Million. On a continuing business basis (i.e excluding financials of Element K) the company's Net Revenue stood at Rs. 239 Cr, up 15% YoY, while the EBITDA was recorded at Rs. 24.4 Cr.

The total debt in balance sheet is reduced by Rs. 286.8 Cr. and there was a net positive cash of Rs. 70.6 Cr as on December 31, 2011. The results were taken on record at the meeting of the Board of Directors here today.

Individual Learning Solutions - IT

The quarter also saw successful commencement of training delivery in colleges through Synchronous Learning Technology.

NIIT courses continued to receive both international & domestic acceptance. While the company earned the coveted "Mexico First" approval for NIIT Programs & Certifications which entitles it to subsidies by the Mexico Government, back home NIIT received the prestigious "Franchisor of the year award" from Franchising India 2011 for developing the best franchise model in the field of education.