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NIIT Limited - Disclosure on Impact of Covid-19 Pandemic

Impact of the CoVID-19 pandemic on the business In NIIT’s B2C business, learning centers have

Impact of the CoVID-19 pandemic on the business

  • In NIIT’s B2C business, learning centers have remained under lockdown in accordance with government regulations and safety requirements. Inperson instructor led learning activity has been restricted since Q4 FY20
  • NIIT’s B2B business worldwide saw cancellations and deferrals by corporates of planned in-person instructor led training events starting early March. In India, the impact is higher due to slower adoption of Digital and slow pace of hiring


Ability to maintain operations including the factories/units/office spaces functioning and closed down

  • Learning centers remain closed in accordance with government regulations and safety requirements. The Company has enabled Work from Home globally for its workforce, which continues to provide services to NIIT's customers.
  • Given the increase in adoption of digital learning, in Q1FY21, the Company has achieved revenue and EBITDA levels similar to Q1 FY20. This is driven by 17% YoY growth in revenue from corporate learning in Q1 FY21

 

Schedule, if any, for restarting the operations

The timeline for opening of education centers is not known at this point of time. However, learning has been transitioned to Digital, and available across B2C and B2B learners


Details of impact of CoVID-19 on listed

  • Capital and financial resources: No Impact
  • Profitability: EBITDA margin has recovered in Q1 FY21 after a sharp decline Q4 FY20
  • Liquidity position: No Impact
  • Ability to service debt and othefinancing arrangements: No Impact
  • Internal financial reporting and control: No Impact
  • Supply chain: No Impact
  • Demand for its products/services: Please refer to results for Q1 FY21

Full read: NIIT Disclosure on impact of covid19.pdf (851.15 kb)

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