Date: October 29, 2026

Financial Performance Summary

| Metric | Q2 FY27 (Sep 30, 2026) | Q2 FY26 (Sep 30, 2025) | YoY Change |

| Net Revenue (₹ Cr) | 528.6 | 475.7 | +11.1% |

| EBITDA (₹ Cr) | 87.4 | 96.6 | -9.6% |

| EBITDA Margin | 16.5% | 20.3% | -378 bps |

| Profit After Tax (₹ Cr) | 37.3 | 47.0 | -20.5% |

| EPS (₹) | 2.7 | Not disclosed | - |

Operational Highlights

Revenue Visibility: Increased to USD 510 million, representing a 25% year-on-year growth.

AI-Enabled Services: Contributed 17% of total revenue in Q2 FY27, showing a 22% quarter-on-quarter growth. Services include AI-powered learning simulations, coaching, and content development.

Client Activity: Signed 4 new long-term annuity clients during the quarter, expanded the scope of 2 existing contracts, and renewed 3 contracts. The total long-term annuity client count stands at 116.

Strategic Initiatives

Large Contract: Signed a large multi-year annuity contract with a global enterprise software leader.

Acquisition: Acquired 100% of Bluewater Learning, LLC, a Plano, Texas-based HCM technology consulting and implementation partner, through wholly owned subsidiary NIIT (USA), Inc. The aggregate consideration is up to USD 17.6 million, including performance-based earnouts over five years.

Bluewater Learning, founded in 2003, has partnerships with leading HCM platforms including Cornerstone and Docebo. The acquisition adds HCM consulting, implementation, and integration expertise to NIIT Learning's capabilities.

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, helping clients 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: Emphasized that strategic investments in AI and expanded reach through organic and inorganic investments are enabling clients to transform into AI-enabled L&D enterprises. Stated that the 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 a Gold standard learning provider by the Learning and Performance Institute, UK for the eleventh consecutive year

Corporate Profile

NIIT Learning is a global leader in AI-powered learning and managed learning services, helping enterprises build AI operating models, infrastructure, and fluency. Operates across 40+ countries with an experienced learning teams and a Net Promoter Score of 9.65/10.