After IT hiring shock, NIIT bets on banks and IT retraining for a better H2: Rajendra Singh Pawar

economictimes.indiatimes.com:

Rajendra Singh Pawar, Chairman, NIIT Group, says the training industry has managed the hiring shock from the IT industry well. “The banking side is doing well. That is not as challenged as IT hiring is.

Also, we are beginning to see that IT companies, as against a generic addition of people, are very busy retraining their people to deal with the newer things which are emerging. So the second half will be better.”Let’s start by talking about the revenue mix and the segment-wise performance of the company, especially the management consultancy and professional services, the contribution from which has been increasing. That has been over a couple of quarters as well. Do you think this trend will continue? What is the expectation in terms of the revenue mix?If you have seen the results, then we do find that the shock that the IT sector gave to the training industry in terms of hiring figures a little more than a quarter ago, has been handled well by the company and we are coming out of it with a quarter-on-quarter growth, though the size of the market remains shrunk, at least for the short term.

Also, in terms of profitability, EBITDA, which was minus 9.5 crore, is now minus 6.3 crore. So, we see an improvement going forward. And at the PAT level, versus minus 9.4, we are at 2.2 crore plus.