Key Quantitative Figures

Financial Performance for Q2 FY27:

  • Net Revenue: ₹528.6 crore, up 11.1% YoY (vs. ₹475.7 crore in Q2 FY26)
  • EBITDA: ₹87.4 crore, down 9.6% YoY (vs. ₹96.6 crore in Q2 FY26)
  • EBITDA Margin: 16.5%, down 378 basis points YoY (vs. 20.3% in Q2 FY26)
  • Profit After Tax: ₹37.3 crore, down 20.5% YoY (vs. ₹47.0 crore in Q2 FY26)
  • EPS: ₹2.7

Business Metrics:

  • Revenue visibility: USD 510 million, up 25% YoY
  • AI-enabled learning services contribution: 17% of total revenue, up 22% QoQ
  • Long-term annuity clients: 116 at quarter end

Strategic Updates and Transactions

Acquisition: NIIT Learning, through its wholly owned subsidiary NIIT (USA), Inc., acquired 100% of Bluewater Learning, LLC for an aggregate consideration of up to USD 17.6 million, including performance-based earnouts over five years. Bluewater is a Plano, Texas-based HCM technology consulting and implementation partner with partnerships with leading HCM platforms including Cornerstone and Docebo.

Client Contracts:

  • Signed 4 new long-term annuity clients during the quarter
  • Signed a large multi-year annuity contract with a global enterprise software leader
  • Expanded scope of 2 existing contracts
  • Renewed 3 contracts during the quarter
  • Maintained industry-leading renewal rate

Management Commentary

Vijay K. Thadani, Co-founder, NIIT and Vice Chairman & Managing Director: Highlighted that the AI-enabled learning platform is redefining corporate L&D, enabling clients to build capability and performance at scale through AI-powered coaching, simulations and synthetic apprenticeships. Noted the transformation of training from a cost center to a core value driver.

Sapnesh Lalla, CEO and Executive Director: Stated that strategic investments in AI and expanded reach through organic and inorganic investments are enabling clients to transform into AI-enabled L&D enterprises. Confirmed that Bluewater Learning acquisition will strengthen HCM learning technology consulting and implementation capabilities.

Awards and Accreditations

  • Earned 114 Brandon Hall HCM Excellence Awards jointly with clients
  • Ranked among Training Industry's Top 20 AI Content Creation & Authoring Tools Companies, 2026
  • Ranked among Training Industry's Top 20 Experiential Learning Technologies Companies, 2026
  • Accredited as Gold standard learning provider by Learning and Performance Institute, UK for eleventh consecutive year

Company Background

NIIT Learning Systems Limited is a global leader in AI-powered learning and managed learning services, established in 1981. The company operates across 40+ countries with a Net Promoter Score of 9.65/10 and industry-leading renewal rate.