Talent development company NIIT Ltd on Monday posted a fiscal fourth quarter loss at Rs 9.37 crore as against a profit of Rs 67.38 crore in the same quarter last year. It posted revenue from operations at Rs 60.05 crore, down 26 per cent in comparison to Rs 81.19 crore in the corresponding quarter of last year. The revenue was impacted by temporary freeze in hiring in the IT Sector as well as compression in spends, due to increased uncertainty in the environment, it said. However, the company maintained that the training volume is expected to pick up gradually during the year, with growth in the second half of FY24. The company EBITDA loss stood at Rs 11 crore as against EBITDA profit of Rs 1 crore on-year.
While its early career segment posted revenue of Rs 30.50 crore, down 34 per cent on-year, the working professionals business recorded revenue of Rs 29.50 crore, down 15 per cent YoY. NIIT registered over 178K enrollments in FY23 across early career and working professionals.