NIIT Q1 Review - Results Beat; Near Term Weakness No Deterrent for Long Term: Dolat Capital

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.NIIT Ltd. reported 7.9% QoQ growth in revenue (our estimate: 4.3%), led by corporate learning solutions segment growth of 5.7% QoQ (3% in constant currency terms), and skills and careers business (including RPS Consulting business), delivering 16.4% QoQ growth. CLS business added four new contracts. Operating profit margin rose to 14.8% (our estimate: 12.4%), down 50 basis points QoQ, reflecting impact of ramp-up in planned investments, and partial resumption of travel/premises cost. CLS Ebitda margin stood at 23.6%, a decline of 57 bps QoQ, while SNC reported Ebitda breakeven (down 191 bps QoQ). Revenue growth outlook for CLS business (79% of revenue) for FY23 was downgraded due to macro uncertainty, to 15-16% constant currency growth (from 20%), while Ebitda margin guidance was retained at of 20% plus.For SNC division, NIIT retained its earlier guidance to deliver 50% plus growth with either a break-even EBITDA profit by end of FY23..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

NIIT Q1 Review - Results Beat; Near Term Weakness No Deterrent for Long Term: Dolat Capital

NIIT Q1 Review - Results Beat; Near Term Weakness No Deterrent for Long Term: Dolat Capital

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