Latest news with #NIIT
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Business Standard
13-05-2025
- Business
- Business Standard
NIIT Q4 results: Net profit up 18% to ₹13 crore, revenue up 16%
Skills and talent development firm NIIT on Tuesday posted around 18 per cent increase in consolidated profit after tax to ₹13.13 crore for the fourth quarter ended March 31, 2025. The company had registered a profit after tax (attributable to owne₹of the parent company) of ₹11.16 crore in the same period a year ago. Revenue from operations grew to ₹86.28 crore during the period from ₹74.34 crore in March 2024 quarter. For FY25, NIIT posted about 20 per cent increase in PAT to ₹46.12 crore from ₹38.36 crore. Revenue from operations increased by about 18 per cent to ₹357.6 crore from ₹303.5 crore in FY 2024. "Despite a volatile business environment, we have recorded a double-digit YoY revenue growth for the fifth consecutive quarter with all-round growth across Technology and BFSI and other programs," CEO Pankaj Jathar said. NIIT recently made a foray in addressing the need for skills development in higher education by acquiring 70 per cent stake in an AI-powered deep skilling SaaS platform iamneo. The transaction was approved by NIIT's Board of Directo₹at its meeting on April 17, 2025. "The acquisition of iamneo and our move to integrate GenAI across flagship programs are part of our strategy of future readiness," NIIT Vice Chairman and Managing Director, Vijay K Thadani said.
Business Standard
13-05-2025
- Business
- Business Standard
NIIT consolidated net profit rises 17.64% in the March 2025 quarter
Sales rise 16.07% to Rs 86.29 crore Net profit of NIIT rose 17.64% to Rs 13.14 crore in the quarter ended March 2025 as against Rs 11.17 crore during the previous quarter ended March 2024. Sales rose 16.07% to Rs 86.29 crore in the quarter ended March 2025 as against Rs 74.34 crore during the previous quarter ended March 2024. For the full year,net profit rose 20.26% to Rs 46.13 crore in the year ended March 2025 as against Rs 38.36 crore during the previous year ended March 2024. Sales rose 17.83% to Rs 357.58 crore in the year ended March 2025 as against Rs 303.47 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 86.2974.34 16 357.58303.47 18 OPM % -1.730.67 - 0.910.39 - PBDT 22.7717.87 27 82.4164.55 28 PBT 16.8412.88 31 59.1746.20 28 NP 13.1411.17 18 46.1338.36 20
Mint
06-05-2025
- Business
- Mint
Computer jobs to creator economy: India's journey through three Bollywood movies
Bollywood movies provide mass entertainment. They may even carry a social message. Rarely do they touch on macroeconomic issues. But looking at them through an economic lens gives surprisingly accurate insights about India's development journey. Consider three movies made and released roughly a decade apart: Dil Chahta Hai (2001), Zindagi Na Milegi Dobara (ZNMD, 2011) and Kho Gaye Hum Kahan (KGHK, 2023). They have much in common. Each is a coming-of-age story. The plots are simple: three friends, all in their twenties, navigate career choices, relationships and life goals on the way to adulthood. The main characters are urban, educated, and upper-middle class or richer. They represent a tiny fraction of India, with the luxury of life choices and the time and energy to ponder over them. This three-movie arc, spanning two-and-a-half decades, captures the changing aspirations of India's educated, well-off, urban youth. Also read | Key trends in charts: How the US is performing under Trump The biggest shift captured by the films is the transformation of the job market between 2001 and 2023. In Dil Chahta Hai , two of the leads join family businesses in computers and exports, while the third is an artist. This mirrors the actual growth drivers of that time: information technology and exports. The steep growth in software development outsourcing in the mid-90s perfectly matched India's pool of low-cost, educated youngsters. Most jobs required limited training, and institutes such as NIIT mushroomed to provide 'computer classes" to students desperate to ride the technology boom. At the same time, trade liberalisation and rupee devaluation pushed up exports, including IT exports. Job creation in exports was strong in the early years – at its peak in 2008, the sector generated 77 million jobs. The optimism of the first post-liberalisation decade continued until 2008, with industry, construction, and financial/professional services growing at a robust pace. Fittingly, the ZNMD trio included an ad agency copywriter, a financial broker, and a businessman in the construction industry. Two of the three were salaried employees in the service sector—a shift from the usual Bollywood depiction of the wealthy as businessmen. Again, this was very representative of changing trends: strong economic growth coupled with a rush of multinationals into India ensured high double-digit salary increases for qualified professionals. In fact, an international first job was highly possible for top talent: the number of overseas postings in the Indian Institute of Management, Ahmedabad's graduating class increased from 26 in 2011 to 40 in 2012. The fact that the financial broker in ZNMD lived and worked in London reflected this trend. The 2011 young Indian professional was confident, well-travelled and at home in the world. In Dil Chahta Hai , the friends took a road trip to Goa; the plot of ZNMD unraveled during a holiday in Spain. The takeaway? By 2011, more Indians could afford to take European holidays. Data backs this inference: in 2007, the World Bank upgraded India's status from a low-income country to a middle-income one. The dividing line is around $1,000 per capita income (based on gross national income), but it took almost two decades after economic reforms to get there. Fast forward to 2023. Gen Z, born between 1997 and 2012, entered the workforce. On one hand, there was a shortage of formal sector jobs; on the other, several new earning opportunities emerged. Consider the professions of the characters in Kho Gaye Hum Kahan —stand-up comic, personal fitness trainer, influencer, photographer, and corporate consultant. More than half of these jobs were unheard of a decade ago; only one counts as salaried employment. Also read | In 5 charts: A month of reciprocal tariff chaos This reflects the rise of two new ecosystems: the gig and platform economy, and online content creation. Peole in both sectors rely heavily on social media networks to find work, advertise talent, and promote accomplishments. Neither offers guaranteed or regular pay, but the lure of being one's own boss, while shaping conversations and trends, is irresistible. That may explain the rapid growth in the number of influencers (over 4 million by the end of 2024) and gig workers (12.7 million in 2024-25). These new-age gigs are not just for the urban elite: digital technology and internet penetration have made them accessible to everyone. All one needs to become an influencer is a smartphone and an idea: the growth of 'heartland influencers" proves the popularity of regional content. A fun way to describe India's changing job landscape is through the titles of the three movies. Dil Chahta Hai — 'The Heart Desires' — represented a time when the young aspired for better lives in newly opened India. ZNMD —'You Won't Get This Life Again'—captured a time of strong economic growth, when they enjoyed prosperity. KGHK—'Where have we lost ourselves?'—is the question to ask as Gen Zs look for work that provides purpose as well as a livelihood. Also read | In charts: India's tourism sector stands at a crossroads This is a bit of an oversimplification, but the point is to emphasise the urgent need to create jobs. The recent announcement of a $1-billion government fund to support creators is a timely idea, but it is too early to assess its impact. Meanwhile, it should be remembered that India has 377 million Gen Zs—more than the population of the US. And the young are a demographic dividend only when they're productive. The author is an independent writer in economics and finance.
India.com
30-04-2025
- Business
- India.com
Bad news for employees of this IT company as it fires 195 people for..., Not Ratan Tata's TCS or Premji's Wipro
Ratan Tata and Azim Premji (File) In a significant update for the Information and Technology sector, Indian IT major Infosys has dismissed another 195 trainees from a batch of 680 at its Mysuru campus after they failed internal assessments, as per a report by Moneycontrol. This marks the fourth round of dismissals, bringing the total number of trainees let go to around 800 since February, 2025. Out of those affected, about 250 have joined upskilling programs with UpGrad and NIIT, while around 150 have signed up for outplacement services. Infosys partners with UpGrad and NIIT In response to this, Infosys has partnered with UpGrad and NIIT to offer upskilling programs for those affected. About 250 trainees have enrolled in these programs, majorly concentrating on Business Process Management (BPM) and IT training. Furthermore, 150 others have opted for job transition services. Infosys is providing these trainees free training through its partnerships with UpGrad for BPM and NIIT for IT skills. Infosys has also offered an alternative career path for some of the dismissed trainees. Those who joined the program after a delay of over 2.5 years are being provided with 12 weeks of training for potential posts in Business Process Management (BPM). Along with a relieving letter, Infosys also pay for the training and will also provide one-month extra payment. For trainees who are not interested in following the BPM career path, the company is arranging transport from Mysuru to Bengaluru and also providing travel allowances to their hometowns. Also, trainees can use accomodation services at the Employee Care Centre in Mysuru until they are ready to depart. This move comes amid a period of low market demand, with Infosys projecting revenue growth of just 0 to 3 percent for the current fiscal year. The company's policy dictates that trainees who fail assessments cannot continue with the program. The Karnataka Labour Department has cleared Infosys of any wrong doing in the dismissals, mentioning that the trainees were apprentices, not employees. Therefore, the labour laws related to layoffs do not apply. This decision came after an investigation ordered by the Union Labour Ministry, during which Infosys confirmed that it followed its own policies while handling the terminations.
News18
29-04-2025
- Business
- News18
Infosys Sees 4th Round Of Layoffs In 2025, 195 Trainees Let Go After Assessment Tests: Report
Last Updated: Infosys discharged 195 trainees from a batch of 680 after failing internal tests, totaling 800 affected since February. The company offers upskilling and outplacement services. Infosys Layoffs: IT giant Infosys discharged at least 195 trainees from a batch of 680 after they failed to pass internal assessment tests, according a report by MoneyControl citing company emails being reviewed by it. With the fresh exits, the total number of affected trainees have reached to 800 since February, marking the fourth round of exits. To support those affected, Infosys is providing free upskilling programs through NIIT and UpGrad. According to MoneyControl report, out of total affected trainees, 250 have enrolled in upskilling programme through Upgrad and NIIT and 150 trainees were registered for outplacement services. India's second-largest IT services company laid off approximately 240 employees on April. Previously, the firm had let go of over 300 trainees in February and an additional 30-35 in March. These layoffs are a response to the company's need to navigate a challenging demand environment. Infosys has projected a revenue growth of only 0 percent to 3 percent for the current fiscal year, highlighting ongoing uncertainty in its primary markets. Infosys Quarterly Results 2025 IT major Infosys earlier had posted a 11.7 per cent year-on-year decline in its net profit to Rs 7,033 crore for the fourth quarter ended March 2025 quarter (Q4 FY25). Its revenues during January-March 2025 rose 7.9 per cent YoY to Rs 40,925 crore, compared with Rs 37,923 crore a year ago. Infosys' net profit had stood at Rs 7,969 crore in the corresponding quarter last year. On a sequential basis, its net profit grew 3.3 per cent and revenue fell 2 per cent. In the preceding quarter ended December 2024, the company's net profit had stood at Rs 6,806 crore and revenue at Rs 41,764 crore. In dollar terms, the company's revenue rose 3.6 per cent YoY and fell 4.2 per cent QoQ during the March 2025 quarter. For the full fiscal 2024-25, Infosys' net profit rose 1.8 per cent to Rs 26,713 crore and its net profit jumped 6.1 per cent to Rs 1,62,990 crore. First Published: April 29, 2025, 12:39 IST
