NIIT Learning Systems Q2 results: Profit up 27% to Rs 47 crore

NIIT Learning Systems Q2 results: NIIT Learning Systems Ltd (NLSL) on Monday posted 27 per cent increase in consolidated profit after tax to Rs 47 crore in the second quarter ended September 30, 2023.

The company had logged a net profit of Rs 37 crore in the same period a year ago. Net revenue also increased 27 per cent to about Rs 382 crore from Rs 300.3 crore in September 2022 quarter.

"Disruptive technologies like AI present a massive opportunity for learning to become significantly more impactful and will enable organizations to transform their talent and achieve competitive advantage. By investing early in these transformative technologies, NIIT MTS is uniquely positioned to become more valuable to its growing list of customers," NLSL Vice Chairman & Managing Director, Vijay K Thadani said.

NLSL Executive Director and CEO Sapnesh Lalla said there has been weakness in demand across geographies.

“In a tough economic environment, our value proposition is continuing to resonate with a larger set of customers. We continue to make investments, expand our customer set, and grow our capabilities uniquely positioning NIIT MTS for acceleration and growth as the environment starts to stabilize," Lalla said.

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