IT training firm NIIT Ltd today said its net profit fell by 52% to Rs 11.6 crore for the quarter ended September 30, 2012.
In the corresponding quarter last year, NIIT had reported a net profit of Rs 24.2 crore on a continuing business basis.
The company's revenues in the July-September quarter stood at Rs 279.1 crore. The company said revenues in the same quarter a year ago were Rs 278.5 crore on a continuing business basis.
The company had sold its Element K business in 2011-12 fiscal.
NIIT said despite a challenging market environment, it improved its market share from 50% to 54% in the IT education space.
NIIT's strategic decision to focus on the four platforms of growth — Cloud Campus, Managed Training Services, Nguru & NIIT Yuva Jyoti — continued to drive the business momentum for the company, the company said.
During the quarter, Corporate Learning Solutions (CLS) recorded net revenues of Rs. 75.4 crore, up 31% year-on-year on a continuing business basis.
School Learning Solutions (SLS) recorded net revenue of Rs 54.1 crore during the quarter, up 34% year-on-year.
"The corporate training business recorded a strong annuity based growth of 31%, with a revenue visibility of USD 127 million over the next 5 years," Vijay K Thadani, Chief Executive Officer, NIIT said.
