NIIT (NIITLTD) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 revenue reached INR 1,014 million, up 3% year-on-year, but missed internal expectations due to a sharp slowdown in fresh hire training, especially in BFSI and IT sectors.

• Technology training grew 20% year-on-year, while BFSI and others declined 27% year-on-year, shifting the revenue mix toward technology.

• AI-enabled offerings contributed 17.65% to revenue, with accelerated investments in tech and AI programs.

• PAT for Q3 FY26 was INR 39 million, with EPS at INR 0.29 per share.

• Board approved unaudited results for Q3 and 9MFY26, with no material misstatements identified.

Financial highlights

• Q3 revenue was INR 1,014 million, marking the second consecutive quarter above INR 1,000 million.

• Order intake for Q3 was INR 822 million, flat year-on-year but down 43% sequentially.

• EBITDA for Q3 FY26 stood at INR 10 million, down from INR 92 million YoY.

• Exceptional expenses of INR 54 million were recorded due to Labour Codes and strategic actions.

• Cash and cash equivalents stood at INR 712.2 million, up from INR 684.6 million last quarter.

Outlook and guidance

• Q4 is expected to deliver double-digit year-on-year revenue growth.

• Guidance for Q4 is breakeven to low single-digit margin, reflecting continued investments.

• IT and BFSI hiring expected to remain muted due to macroeconomic volatility.

• The scheme of amalgamation is pending regulatory approval, with the next hearing scheduled for March 26, 2026.

• Medium to long-term outlook remains positive, but timelines are uncertain due to market volatility.