NIIT Learning Systems Achieves 21.65% Profit Rise in Q3 2024

NIIT Learning Systems recorded a 21.65% increase in net profit, reaching Rs 57.03 crore in the September 2024 quarter. Despite sequential declines, they highlighted strategic client retention and innovation. The company's stock traded slightly lower on the BSE amid a strong performance in client addition and retention.

NIIT Learning Systems (NIIT MTS) announced a significant 21.65% increase in its consolidated net profit, amounting to Rs 57.03 crore in the September 2024 quarter. This rise is in comparison to a net profit of Rs 46.88 crore recorded in the same period last year, as per the company's filing.

For the reported quarter, NIIT MTS achieved net revenue of Rs 397.44 crore, reflecting a 4.06% increase from the Rs 381.92 crore recorded in Q2FY24. However, the company noted a sequential decline in profit and revenue, falling by 4.9% and 2.4% respectively.

Vijay K Thadani, vice chairman and MD, highlighted the addition of two prestigious Managed Training Services clients and a strong renewal record. Thadani emphasized the company's focus on innovative solutions, such as GenAI-powered platforms, as key to customer growth and retention. Established in 1981, NIIT MTS specializes in managed learning and strategic consulting services. Despite strong performance, its shares traded slightly lower at Rs 468 each on the BSE.

(With inputs from agencies.)