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Education services company NIIT Ltd posted net profit of Rs 0.6 crore for the first quarter ended June 30, 2014 as compared to net loss of Rs 9.4 crore profit in same period last fiscal. Net revenue saw a marginal rise to Rs 225.3 crore in Q1 compared to Rs 222.2 crore in previous fiscal.
The company recorded an EBITDA (earnings before interest, taxes, depreciation, and amortisation) of Rs 12.8 crore, up 23% year-on-year.
Corporate Learning Solutions (CLS) recorded net revenue of Rs 111.3 crore, up 32% YoY during the quarter. Vijay K Thadani, Chief Executive Officer, NIIT Limited said, “NIIT’s customized training solutions for corporates - MTS (Managed Training Services) - continued to gain strong acceptance by the industry, thereby resulting in a robust growth of 32% YoY in our corporate training business.”
Career Building Solutions (CBS) recorded net revenue of Rs. 72.6 crore during the Q1. Over 6,600 students were placed into jobs in Q1 alone. School Learning Solutions (SLS) registered net revenue of Rs 39.4 crore during the quarter, adding 129 Private Schools to its portfolio.
