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    - the financial year and quarter. In India the Financial Year is from 1 April of current year to 1 April of next year.
    - the profit numerically as well as profit growth percentage.
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    Now summarize the following text:
     
 
October 23, 2024  
 
The Manager  
BSE Limited  
Phiroze Jeejeebhoy Towers,  
Dalal Street, Mumbai - 400 001  The Manager  
National Stock Exchange of India Limited  
Exchange Plaza, Bandra Kurla Complex,  
Bandra (E), Mumbai - 400 051  
 
Sub:  Submission of Unaudited Financial Results for the quarter and half year ended 
September 30, 2024  
 Scrip Code: BSE - 543952; NSE - NIITMTS  
 Dear Sir /Madam , 
 
This is to bring to your kind attention that the Board of Directors of the Company in its meeting 
held on October 23, 2024 (which commenced at 11:40 A.M. and concluded at 12:55 P.M.) 
has, inter -alia, approved both Consolidated and Standalone Unaudited Financial Results of 
the Company for the quarter and half year ended September 30, 2024  (“Results”) along with 
Limited Review Report of the Statutory Auditors.  
 
A copy of the said Results along with Limited Review Report s is enclosed herewith for your 
information and records.  
 
Further members may note that the Trading Window for dealing in the securities of the 
Company shall open for all Designated Persons and their immediate relatives with effect from October 26, 2024.  
 You are requested to take note of the same and inform your members accordingly.  
 Thanking you,  
 
Yours sincerely,  
 For NIIT Learning Systems Limited  
 
 
 
Deepak Bansal  
Company Secretary  
& Compliance Officer  
NUT Learning Systems Limited 
Regd Office: Plot No. 85, Sector• 32, Institutional Area, Gurugram -122001 (Haryana) India 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> Fax: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> Website: http://www.niitmts.com 
Corporate Identity Number: L72200HR2001PLC099478 
Email : <PRESIDIO_ANONYMIZED_EMAIL_ADDRESS> 
Statement ofUnoudited Financial Results for the quarter and half year ended September 30, 2024 
Consolidated Financial Results 
Preceding Corre,ponding Year to date figures 
3 month• ended 3 month• ended 3 months ended for the current 
Particulars September 30, 2024 June 30, 2024 September 30, 2023 period ended 
September 30, 2024 
Unaudited Un•udited Un•udited Unaudited 
m (2) (3) (4) (5) 
1 Income 
a) Revenue from operations 3,974.48 4,072.29 3,819.27 8,046.77 
b) Other income 126.34 93.46 74.09 219.80 
Total income 4100.82 4 165.75. 3 893.36 8 266.57 
2 Expenses 
a) Purchase of stock-in-trade 0.19 0.69 0.08 0.88 
b) Changes in inventories of stock-in-trade 0.24 0.19 O.Q4 0.43 
c) Employee benefits expense 1,978.49 1,950.11 1,840.59 3,928.60 
d) Professional & technical outsourcing expenses 701.57 750.26 731.48 1,451.83 
e) Finance costs 71.22 72.10 86.64 143.32 
£) Depreciation and amortisation expenses 152.64 139.97 169.70 292.61 
e) Other exoenses 418.76 410.91 348.06 829.67 
Total exoenses 3.323.11 3.324.23 3.176.59 6 647.34 
3 Profit before Exceptional items and tax (1-2) 777.71 841.52 716.77 1,619.23 
4 Exceotional items (net\ <Refer note 4) (32.27\ (29.05 (43.15 (61.32) 
5 Profit before tax (3+4) 745.44 812.47 673.62 1.557.91 
6 Tax expense 
-Current tax 190.59 216.54 186.44 407.13 
-Deferred tax (credit)/ charge (15.51) (4.26) 18.37 (19.77) 
Total tax exnense 175.08 212.28 204.81 387.36 
7 Profit arter tax Profit attributable to (5-6) 570.36 600.19 468.81 1,170.55 
Owners of the Parent Company 570.36 600.19 468.81 I 170.55 
8 Other comprehensive income/ (loss) 
(i) Items that will not be reclaS8ilied subsequently to profit 
or los, 
a) Remeasurement of the defined benefit obligation (3.43) (0.78) 31.15 (4.21) 
b) Income tax effect 0.86 0.20 (7.84) 1.06 
c) Gain on equity instrument measured at Fair value through 12.46 . . 12.46 other comprehensive income 
d) Income tax effect (1.56' . . (l.56\ 
8.33 (0.58 23.31 • 7.75 
(ii) Items that will be reclassified subsequently to profit or 
Jo .. 
a) Fair value changes on cash flow hedges (33.55) 9.63 (3.72) (23.92) 
b) Income tax effect 7.49 (1.99) - 5.50 
c) Exchange differences on translation of foreign operations 156.51 (20.37) (30.72 136.14 
130.45 (12.73 (34.44 117.72 
Total(i+ii) 138.78 (13.31 (11.13 125.47 
9 Total comprehensive income attributable to (7+8) : 709.14 586.88 457.68 1,296.02 
Owners of the Parent Comoanv 709.14 586.88 457.68 1 296.02 
10 Paid-up equity share capital 271.70 271.31 269.24 271.70 .l<Face value of Rs. 2 each. fully paid) 
11 Reserves excludin~ revaluation reserves 
12 Earnings Per Share attributable to equity shareholden of 
parent (in Rs.): 
(Face value of Rs. 2/-) (Not annualised) 
-Basic 4.20 4.43 3.48 8.63 
-Diluted 4.04 4.26 3.34 8.31 (Rs. in Millions, exceot oer share data) 
Year to date figures 
for the previous Previous year ended 
period ended March 31, 2024 
September 30, 2023 
Unaudited Audited 
(Rerer note 6) (Rerer note 6) 
(6) (1) 
7,642.71 15,535.08 
147.86 319.46 
7 790.57 15 854.54 
1.69 4.99 
0.16 0.46 
3,722.55 7,532.36 
1,469.45 2,92S.99 
169.41 327.00 
322.38 591.78 
696.46 1449.09 
6 382.10 12 831.67 
1 408.47 3 022.87 
(51.80' (51.80' 
1.356.67 2 971.07 
296.15 776.02 
39.99 62.63 
336.14 838.65 
1,020.53 2,132.42 
I 020.53 2,132.42 
35.38 22.86 
(8.90) (5.75) 
- 30.86 
. (3.86' 
26.48 44.11 
9.36 8.61 
(0.58) 
7.14 37.25 
16.50 45.28 
42.98 89,39 
1,063.51 2,221.81 
1.063.5 I 2 221.81 
269.24 270.78 
9 503.69 
7.58 15.82 
7.29 15.22 NIIT Learning Systems Limited 
Regd Office: Plot No. 85, Sector -32, Institutional Area, Gurugram -122001 (Haryana) India 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> Fax: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> Website : http://www.niitmts.com 
Corporate Identity Number: L72200HR2001PLC099478 
Email : <PRESIDIO_ANONYMIZED_EMAIL_ADDRESS> 
(Rs. in Millions' 
Consolidated Statement of Assets and Liabilities 
Particulars 
ASSETS 
Non-current assets 
Property, plant and equipment 
Goodwill 
Other Intangible assets 
Right-of-use assets 
Intangible assets under development 
Financial assets 
Investments 
Other financial assets 
Deferred tax assets (net) 
Income tax assets (net) 
Other non-current assets 
Total non-current assets 
Current assets 
Inventories 
Financial assets 
Investments 
Trade receivables 
Cash and cash equivalents 
Bank balances other than above 
Other financial assets 
Other current assets 
Total current assets 
TOTAL ASSETS 
EQUITY AND LIABILITIES 
EQUITY 
Equity share capital 
Other equity 
TOTAL EQUITY 
LIABILITIES 
Non-current liabilities 
Financial liabilities 
Borrowings 
Lease liabilities 
Other financial liabilities 
Deferred tax liabilities (net) 
Provisions 
Other non-current liabilities 
Total non-current liabilities 
Current liabilities 
Financial liabilities 
Borrowings 
Lease liabilities 
Trade payables 
(a) Total outstanding dues of micro enterprises and small enterprises 
(b) Total outstanding dues of creditors other than micro enterprise 
and small enterprises As at 
Senternber 30. 2024 
Unaudited 
293.14 
4,429.53 
1,044.21 
342.64 
237.55 
326.20 
36.22 
159.40 • 
90.89 
3.62 
6,963.40 
0.37 
4,169.00 
2,171.40 
2,928.44 
1.04 
3,682.73 
456.53 
13,409.51 
20,372.91 
271.70 
10,557.80 
10,829.50 
565.33 
283.56 
1,576.36 
30.31 
4.46 
3.85 
2,463.87 
251.04 
72.93 
8.20 
960.98 March 31 2024 
Audited 
340.62 
4,407.51 
999.13 
385.96 
262.71 
302.79 
29.13 
148.34 
230.27 
1.18 
7,107.64 
0.80 
3,473.87 
2,250.47 
2,843.04 
1.11 
4,356.21 
298.23 
13,223.73 
20,331.37 
270.78 
9,503.69 
9,774.47 
683.35 
319.98 
1,513.16 
43.70 
4.24 
3.87 
2,568.30 
246.73 
71.21 
9.11 
896.41 
Other financial liabilities 4,237.90 4,833.47 
Other current liabilities 1,179.71 1,533.86 _ 
Provisions R.''b-Msoc,.~ 209.88 169.16 ~r\ Sys,.. v.~o;r.~~~~.~~ ~~ •· Income tax liabilities (net) s< ,~ ·\.,. 158.90 228.65 (:-, ~~ 
Total current liabilities 1 I{ -\ s~ l 1-------7.;;.;:07.;.;.9.;.;..5.;.;.4-1------7..:;,9.;;:.8,;;_;;8.:..;.6'-RI~ "' 
TOTAL LIABILITIES ~t1.. } !). 9,543.41 10,556:91 .. ::/ Gurugram E 
1...T.::.O:::.T.::.A=L-=E:..::Q~UI=T-=Y..;A.::ND~-=L:.:::IA:.;:;B::::l:.:L:::IT.::.I:.:E:::S;__ __ ~..:ii;.:IS\ •. ..,'-_'--_•.--_--_,_;_~~,...:1;,.__---L,1-_-_-_-_-_-_-_-_--=.2...:;0:,:::.3~7:;2;;;.9;1:-~~\;/_;::::::::.Atf-'=-;;.;::.z.,,;,3::.:""'3;;1.::.;;;._3~•~ .• ,., \, $ 
-",., .. , ... ·'-'". C\_ / \. "·-,01, 
\ \ , -~ • ~-c:::c _}/ NIIT Learning Systems Limited 
Regd Office: Plot No. 85, Sector -32, Institutional Area, Gurugram -122001 (Haryana) India 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> Fax: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> Website: http://www.niitmts.com 
Corporate Identity Number: L 72200HR2001PLC099478 
Email : <PRESIDIO_ANONYMIZED_EMAIL_ADDRESS> 
Consolidated Statement of Cash Flows 
Period ended 
Particulars Sentember 30, 2024 Sentember 30, 2023 
A. CASH FLOW FR.OM OPERATING ACTIVITIES: 
Profit before exceptional items and tax 
Adjustments to reconcile profit before tax to net cash flows 
Depreciation and amortisation expenses 
Advances from Customers written back 
Finance costs 
Interest income from deposits with Banks and Financial Institutions 
Unwinding of interest income on security deposit given 
Unwinding of deferred income on advances received 
(Gain)/ Loss on termination ofleases (net) 
Loss I (Gain) on sale/ disposal of Property, Plant and Equipment and Intangible assets (net) 
Net gain on changes in fair value of investments through profit and loss 
Fair value loss on contingent consideration 
Allowance for expected credit loss (net of reversal) 
Bad Debts written off 
Allowance for doubtful advances and other receivables (net ofreversal) 
Allowance for slow/ non-moving inventory (net ofreversal) 
Unrealised Foreign Exchange Loss/ (Gain) (net) 
Share based payment expense 
Operating cash flows before working capital changes 
Changes in assets and liabilities 
(Decrease)/ Increase in Trade Payables 
(Decrease)/ Increase in Other Non Current Financial Liabilities 
(Decrease)/ Increase in Other Current Liabilities 
(Decrease)/ Increase in Other Current Financial Liabilities 
(Decrease)/ Increase in Provisions-Current 
(Increase)/ Decrease in Trade Receivables 
(Inctease )/ Decrease in Inventories 
(Increase)/ Decrease in Other Non Current Assets 
(Increase)/ Decrease in Other Current Assets 
(Increase)/ Decrease in Other Current Financial Assets 
(Increase)/ Decrease in Other Non Current Financial Assets 
Net cash flows from operations before tax 
Direct Tax-(paid including TDS)/ refund received (net) 
Net Cash flows from Operating activities before Exceptional Items 
Exceptional Expenses in relation to Scheme of arrangement/ acquisition of Business, 
Investments and Strategic initiatives 
Net Cash flows from operating activities (A) 
B. CASH FLOW FROM INVESTING ACTIVITIES: 
Purchase of Property, Plant and Equipment (including Right of use Assets, internally 
generated Intangible Assets and capital advances) 
Proceeds from sale of Property, Plant and Equipment 
(Placement)/ Encashment of Fixed Deposits from Banks (net) 
Encashrnetlt of Deposits from other Financial Institutions (net) 
Proceeds from sale of mutual funds 
Purchase of mutual funds 
Payment towards Investments in Preferred shares 
Payment towards acquisition of business 
Interest received from deposits with Banks and Financial Institutions 
Net Cash used in Investing activities (B) 
C. CASH FLOW FROM FINANCING ACTIVITIES: 
Proceeds from issue of shares under Employee stock option scheme 
Share application money received 
Payment of principle portion oflease liabilities 
Payment of interest on lease liabilities 
Repayment oflong term borrowings 
Interest paid 
Dividend paid to equity share holders of Parent Company 
Net Cash used in Financing activities (C) 
Net (Decrease) / Increase in cash & cash equivalents (A) + (B) + (C) 
Exchange difference on translation of foreign currency cash and cash equivalents 
Cash and Cash equivalents as at the beginning of the year 
Cash and cash eauivalents as at the end of the nerlod / vear Unaudited Unaudited 
1,619.23 1,408.47 
292.61 322.38 
(0.11) (2.42) 
58.23 52.18 
(55.80) (36.83) 
(1.04) (0.58) 
(0.60) (0.31) 
(0.02) 0.01 
1.49 (0.63) 
(143.16) (94.30) 
85.09 117.23 
27.21 65.95 - -- (0.62) 
(1.44) (1.16) 
19.81 (10.62) 
101.54 92.77 
2,003.04 1,911.52 
(0.21) (60.00) 
1.36 (1.80) 
(354.04) (177.22) 
(650.95) 875.62 
36.51 32.20 
48.22 153.13 
1.87 1.32 
(0.83) 0.71 
(158.30) (95.72) 
683.94 (1,513.69) 
(0.61) (29.71) 
1,610.00 1,096.36 
(337.18) (282.44) 
1,272.82 813.92 
(29.731 (73,06) 
1,243.09 740.86 
(215.27) (226.41) 
1.51 3.61 
(0.91) (473.20) - 449.00 
2,207.71 644.05 
(2,757.11) (1,436.27) 
- (265.30) 
- -
33.49 35.11 
(730.58 (1,269.41' 
50.06 -- 3.74 
(35.10) (33.15) 
(16.06) (8.31) 
(125.53) (110.73) 
(39.78) (41.32) 
(373.52) -
(539.93 (189.77) 
(27.42) (718.32) 
112.82 (56.00) 
2,843.04 2,559.70 
2,928.44 1 ~.38 
~ F (Rs in Millions) 
Year ended 
March 31, 2024 
Audited 
3,022.87 
591.78 
(2.43) 
128.00 
(85.45) 
(1.41) 
(0.84) 
(0.04) 
(0.48) 
(193.15) 
199.00 
71.45 
0.41 
0.24 
(1.28) 
(7.97) 
147.26 
3,867.96 
(58.69) 
11.41 
200.44 
1,478.77 
(72.56) 
(163.25) 
1.74 
(0.43) 
(96.18) 
(1,506.82) 
(37.13) 
3,625.26 
(729.44) 
2,895.82 
(110.09) 
2,785.73 
(472.52) 
4.32 
65.24 
328.90 
2,960.79 
(3,744.28) 
(265.30) 
(796.71) 
100.43 
(1,819.13 
75.83 
-
(61.57) 
(31.05) 
(248.76) 
(91.46) 
(33~~ -
/,{(i2~7$ sc 
~ ~}:i.'89 M I l'tJzlm.45 ~ ~.>Hfl ram 
----v2,843.04 
\< ·,,_ Notes to the Consolidated Financial Results :-NIIT Learning Systems Limited 
Regd Office : Plot No. 85, Sector• 32, Institutional Area, Gurugram -122001 (Haryana) India 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> Fax: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> Website: http://www.niitmts.com 
Corporate Identity Number: L72200HR2001PLC099478 
Email : <PRESIDIO_ANONYMIZED_EMAIL_ADDRESS> 
1 The above results were reviewed and recommended by Audit Committee and approved by the Board of Directors at its meeting held on October 23, 2024. 
2 The consolidated financial results have been prepared in accordance with applicable Indian Accounting Standards as prescribed under section 133 of the Companies Act 2013 read with rule 3 of the 
Companies (Indian Accounting Standards) Rules 2015 (as amended) and presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) 
Regulations , 2015, ("Listing Regulations"). 
3 During the quarter, under the NLSL Employee Stock Option Plan 2023 (NLSL ESOP 2023-0), 196,006 equity shares· were issued, 6,668 options lapsed and 7,655,659 options remained outstanding as on 
September 30, 2024. Additionally, the Group has granted 2,683,750 stock options to eligible employees under the NLSL Employee Stock Option Plan 2024 (ESOP 2024), with an exercise price of Rs. 
445.15 per option, on July I, 2024 and 7,500 stock options lapsed/cancelled . 
4 Exceptional items in Consolidated Financial Results, include the following: 
(Rs. in Millions\ 
Preceding Corresponding Year to date figures Year to date figures 
3 months ended for the current for the previous Previous year ended 
September 30, 2024 3 months ended 3 months ended period ended period ended • l\farch 31, 2024 
Particulars June 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 
Unaudited Unaudited Unaudited Unaudited Unaudited Audited 
(Refer note 6) (Refer note 6) 
Exnenses: 
Leoal Professional and other costs towards Strateoic Initiatives 132.27\ (29.051 . (61.32 . 
Expenses incurred towards Scheme of Arrangement (43.15) (51.80) (51.80) (Refer note 6) . . . 
Total 132.27) (29.051 (43.15 (61.32 151.80\ (51.80\ 
S The Group is engaged in providing Education & Training Services in a single segment. Based on "Management Approach", as defined in Ind AS I 08 -Operating Segments, the Chief Executive Officer 
& Chief Financial Officer of the Holding Company are considered as Chief Operating Decision Makers (CODM) who evaluate the performance and allocate resources based on the analysis of 
performance of the Group as a whole. Its operations are, therefore, considered to constitute a single segment in the context of Ind AS I 08 -Operating Segments. 
6 The National Company Law Tribunal (NCLT), Chandigarh Bench vide Order dated May I 9, 2023 sanctioned the Composite Scheme of Arrangement (Approved by the board of directors of the Company 
on January 28, 2022). The Scheme became effective on May 24, 2023 upon filing of the certified copies of the NCLT order, sanctioning the Scheme with the respective jurisdictional Registrar of 
Companies. Pursuant to the Scheme becoming effective, the CLG Business Undertakin g was demerged from NUT Limited ("NUT'') and transferred to and vested in NUT Learning Systems Limited 
("NLSL") with effect from April I, 2022 i.e. the Appointed Date. Legal, professional and other expenses relating to the Scheme were recognized as an exceptional item in financial results. 
NUT had transferred specific income, expenses, assets, liabilities and reserves of CLO Business Undertaking w.e.f. Appointed Date till Effective Date based on the allocation as prescribed in the Scheme 
and with respect to common items, the allocations were approved by the Board of Directors of the Holding Company. 
Pursuant to the Scheme, NLSL had issued and allotted equity shares to the shareholders of NUT whose name appeared in the register of members of NUT as on the record date i.e. June 8, 2023, one 
equity share of Rs. 2/-each in NLSL as fully paid up for every equity share of Rs. 2/-each held by them in NUT. 
7 During the previous year, NUT (Ireland) Limited, a wholly owned subsidiary ofNLSL had made a strategic investment of long term nature for Rs. 265.30 Million (Euro 3 Million) in Preferred Shares of 
KIC InnoEnergy, SE ("EIT InnoEnergy") on July 26, 2023 which had been disclosed as non-current investment. During the quarter this investment has been fair valued through other comprehensive 
income (net of tax) amounting to Rs. I 0.90 Million (Previous quarter Rs. Nil). 
8 Previous period/ year figures have been regrouped/ reclassified, to conform to current period's classification, wherever required. 
Place : Gurugram 
Date : October 23, 2024 S.R. BATLIBOI & ASSOCIATES LLP 
Chartered Accountants 6 7, Institutional Area 
Sector 44, Gurugram -122 003 
Haryana, India 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> 
Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated 
Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and 
Disclosure Requirements) Regulations, 2015, as amended 
Review Report to 
The Board of Directors 
NIIT Learning Systems Limited 
1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of NIIT 
Leaming Systems Limited (the "Holding Company") and its subsidiaries (the Holding Company and its 
subsidiaries together referred to as "the Group") for the quarter ended September 30, 2024 and year to date 
from April O 1, 2024 to September 30, 2024 (the "Statement") attached herewith, being submitted by the 
Holding Company pursuant to the requirements of Regulation 33 of the SEBl (Listing Obligations and 
Disclosure Requirements) Regulations , 2015, as amended (the "Listing Regulations"). 
2. The Holding Company's Management is responsible for the preparation of the Statement in accordance with 
the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) 
"Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read 
with relevant rules issued thereunder and other accounting principles generally accepted in India and in 
compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding 
Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our 
review. 
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 
2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued 
by the Institute of Chartered Accountants oflndia. This standard requires that we plan and perform the review 
to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim 
financial information consists of making inquiries, primarily of persons responsible for financial and 
accounting matters, and applying analytical and other review procedures. A review is substantially less in 
scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable 
us to obtain assurance that we would become aware of all significant matters that might be identified in an 
audit. Accordingly, we do not express an audit opinion. 
We also performed procedures in accordance with the Circular No. CIR/CFD/CMDI/44/2019 dated March 
29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing 
Regulations, to the extent applicable. 
4. The Statement includes the results of the entities listed in Annexure A. 
5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the 
consideration of the review reports of other auditors referred to in paragraph 6 below, nothing has come to 
our attention that causes us to believe that the accompanying Statement, prepared in accordance with 
recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') 
specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued 
thereunder and other accounting principles generally accepted in India, has not disclosed the information 
required to be disclosed in terms of the Listing Regulations , including the manner in which it is to be 
disclosed, or that it contains any material misstatement. 
6. The accompanying Statement includes the unaudited interim financial results and other financial information, 
in respect of two subsidiaries, whose unaudited interim financial results include total assets of Rs. 5,991.31 
million as at September 30, 2024, total revenues of Rs. 958.40 million and Rs. 1,989.76 million, total net 
profit after tax of Rs. 85.72 million and Rs. 229.63 million, total comprehensive income of Rs. 90.03 million 
and Rs. 236.93 million, for the quarter ended September 30, 2024 and the period ended on that date 
respectively, and net cash inflows of Rs. 69.03 million for the period from April I, 2024 to September 30, 
2024, as considered in the Statement which have been reviewed by their respective independent auditors. S.R. BATLIBOI & ASSOCIATES LLP 
Chartered Accountants 
The independent auditor's reports on interim financial results of these entities have been furnished to us by 
the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in 
respect of these subsidiaries is based solely on the report of such auditors and procedures performed by us as 
stated in paragraph 3 above. 
7. The accompanying Statement includes unaudited interim financial results and other unaudited financial 
information in respect of four subsidiaries, whose interim financial results and other financial information 
reflect total assets of Rs. 145.23 million as at September 30, 2024 and total revenues of Rs. 12.85 million and 
Rs. 22.92 million, total net loss after tax of Rs. 6.95 million and Rs. 9.75 million, total comprehensive loss of 
Rs. 6.95 million and Rs. 9.75 million, for the quarter ended September 30, 2024 and the period ended on that 
date respectively and net cash outflows of Rs. 62.71 million for the period from April 01, 2024 to September 
30, 2024. 
The unaudited interim financial results and other unaudited financial information of the these subsidiaries 
have not been reviewed by any auditor and have been approved and furnished to us by the Management and 
our conclusion on the Statement, in so far as it relates to the affairs of these subsidiaries is based solely on 
such unaudited interim financial results and other unaudited financial information. According to the 
information and explanations given to us by the Management, these interim financial results are not material 
to the Group. 
Our conclusion on the Statement in respect of matters stated in para 6 and 7 above is not modified with 
respect to our reliance on the work done and the reports of the other auditors and the financial results certified 
by the Management. 
For S.R. Batliboi & Associates LLP 
Chartered Accountants 
ICAI Firm registration number: 101049W /E300004 
Memb o.: 094524 
umN: 2-Yo~ 45 2 '-t SK R:>V8i 
Place: Gurugram 
Date: October 23, 2024 S.R. BATLIBOI & ASSOCIATES LLP 
Chartered Accountants 
Annexure-A 
List of entities included in the consolidated financial results for the quarter and half year ended September 30, 
2024. 
NIIT Learning Systems Limited 
Subsidiaries of NIIT Learning Systems Limited 
I. NIIT USA Inc, USA 
I. I. Stackroute Learning Inc, USA (subsidiary of entity at serial no. I) 
1.2. St. Charles Consulting Group, LLC (subsidiary of entity at serial no. I) 
1.3. Eagle Training Spain, S.L.U (subsidiary of entity at Serial no. I) 
1.4. NIIT Mexico, S. DE R.L. DE C.V. (subsidiary of entity at serial no. I) 
1.5. NIIT Brazil L TOA (subsidiary of entity at serial no. I) 
2. NIIT Limited, UK 
3. NIIT Malaysia Sdn. Bhd, Malaysia 
4. NIIT (Ireland) Limited 
4.1. NIIT Learning Solutions (Canada) Limited (subsidiary of entity at serial no. 4) 
5. NIIT West Africa Limited NUT Learning Systems Limited 
Regd Office : Plot No. 85, Sector• 32, Institutional Area, Ourugram • 12200 I (Haryana) India 
Tel : <PRESIDIO_ANONYMIZED_PHONE_NUMBER> Fax: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> Website: http://www.niitmts .com 
Corporate Identity Number: L72200HR2001PLC099478 
Email : investors@niitmts .com 
Statement of Unaudited Financial Results for the quarter and half year ended September 30, 2024 
Standalone Financial Results 
Preceding3 Corre,,ponding 3 Year to date figures 
3 months ended months ended months ended for the current 
September 30, 2024 June 30, 2024 September 30, 2023 period ended 
Partlculan September 30,2024 
Unoudlted Unondlted Unoudited Unoudited 
(1) (2) (3) (4) (5) 
1 Income 
a) Revenue from operations 1,162.31 1,068.62 953.50 2,230.93 
b) Otlier incnme 576.99 16160 131.94 738.59 
Total income 1 739.30 1 230.22 1 085.44 2 969.52 
2 Expenses 
a) Purchase of stock-in-trade 0.19 .0.69 0.08 0.88 
b) Changes in inventories of stock-in-trade 0.24 0.19 0.04 0.43 
c) Employee benefits expense 562.77 498.51 500.88 1,061.28 
d) Professional & teclinical outsourcing expenses 265.66 265.28 219.17 530.94 
e) Finance costs 7.61 7.75 4.52 15.36 
f) Depreciation and amortisation expenses 73.70 62.85 51.63 136.55 
a) Other exnenses 162.40 147.01 119.42. 309.41 
Total expenses 1,072.57 982.28 895.74 2,054.85 
3 Profit before Exceptional items and tax (1-2) 666.73 247.94 189.70 914.67 
4 Exceotional items (net) (Refer note 4) . . 15.02 . 
5 Profit before tax (3+4) 666.73 247.94 184.68 914.67 
6 Tax expense 
-Current tax 60.12 58.17 41.04 118.29 
•Deferred iax (credit)/ cliarge (14.01) 6.09 4.84 (7.92) 
Total tax exnense 46.11 64.26 45.88 110.37 
7 Profit after tax (5-6) 620.62 183.68 138.80 804.30 
8 Other comprehensive Ooss) / income 
(i) Items that will not be reclassified subsequently to 
profit or loss 
a) Remeasurement of defined benefit obligation (3.43) (0.78) 31.15 (4.21) 
b) Income tax effect 0.86 0.20 17.84 1.06 
(2.57) (0.58' 23.31 (3.15) 
(II) Items that will be reclaHified subsequently to profit 
or loss 
a) Fair value changes on cash flow hedges (26.04) 6.20 (3.72) (19.84) 
b) Income tax effect 6.56 (1.56) . 5.00 
<19.48 4.64 (3.72 <14.84 
Total(i+ii\ (22.05 4.06 19.59 (17.99 
9 Total comprehensive income {7+8) 598.57 187.74 158.39 786.31 
10 Paid-up equity share capital 271.70 271.31 269.24 271.70 I ( face value of Rs. 2 eacli fullv naidl 
11 Reserves excludinR revaluation reserves 
12 Earnings Per Share attributable to shareholden (In Rs.): 
(Face value of Rs. 2/-) (Not annualised) 
-Basic 4.57 1.36 1.03 5.93 
-Diluted 4.40 1.30 0.99 5.71 (Rs. in Millions, except per share data) 
Year to date figures Previous year for the previous ended period ended March 31, 2024 September 30, 2023 
Unoudited Audited 
(Refer note 6) (Refer note 6) 
(6) m 
1,912.87 4,001.68 
301.07 964.76 
2 213.94 4 966.44 
1.69 4.99 
0.16 0.46 
1,019.20 1,990.19 
450.42 974.17 
6.50 27.84 
89.32 193.42 
256.97 520.47 
1,824.26 3,711.54 
389.68 1,254.90 
(13.67) 03.67) 
376.01 1 241.23 
84.56 168.74 
5.41 51.75 
89.97 220.49 
286.04 1 020.74 
35.38 22.86 
(8.91) (5.76) 
26.47 17.10 
9.36 16.46 . (1.56' 
9.36 14.90 
35.33 32.00 
321.87 1 052.74 
269.24 270.78 
5,550.16 
2.12 7.57 
2.04 7.29 NIIT Learning Systems Limited 
Regd Office : Plot No. 85, Sector -32, Institutional Area, Gurugram -122001 (Haryana) India 
Tel : <PRESIDIO_ANONYMIZED_PHONE_NUMBER> Fax: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> Website : http://www.niitmts.com 
Corporate Identity Number : L 72200HR2001PLC0994 78 
Email : <PRESIDIO_ANONYMIZED_EMAIL_ADDRESS> 
(Rs. in Millions' 
Standalone Statement of Assets and Liabilities 
Particulars 
ASSETS 
Non-current assets 
Property, plant and equipment 
Intangible assets 
Right-of-use assets 
Intangible assets under development 
Financial assets 
Investments 
Other financial assets 
Deferred tax assets (net) 
Income tax assets (net) 
Other non-current assets 
Total non-current assets 
Current Assets 
Inventories 
Financial assets 
Investments 
Trade receivables 
Cash and cash equivalents 
Bank balances other than above 
Other financial assets 
Other current assets 
Total current assets 
TOTAL ASSETS 
EQUITY AND LIABILITIES 
EQUITY 
Equity share capital 
Other equity 
TOTAL EQUITY 
LIABILITIES 
Non-current liabilities 
Financial liabilities 
Borrowings 
Lease Liabilities 
Other financial liabilities 
Provisions 
Other non-current liabilities 
Total non-current liabilities 
Current liabilities 
Financial liabilities 
Borrowings 
Lease Liabilities 
Trade payables 
(a) Total outstanding dues of micro enterprises and small enterprises 
(b) Total outstanding dues of creditors other than micro enterprises and 
small enterprises 
Other financial liabilities ---
Other current liabilities 
Provisions 
Income tax liabilities (net) 
Total current liabilities 
TOTAL LIABILITIES 
TOTAL EQUITY AND LIABILITIES As At 
Seotember 30, 2024 March 31, 2024 
Unaudited 
236.09 
355.94 
266.58 
238.74 
979.20 
26.40 
134.81 
20.37 
3.04 
2.261.17 
0.37 
3,631.62 
950.78 
40.94 
1.04 
548.64 
357.78 
5.531.17 
7.792.34 
271.70 
6,094.44 
6,366.14 
2.88 
230.80 
12.11 
4.46 
3.85 
254.10 
2.62 
42.12 Audited 
269.76 
234.19 
296.24 
237.20 
979.20 
19.93 
120.84 
20.37 
0.61 
2,178.34 
0.80 
3,216.83 
851.52 
96.18 
1.11 
704.60 
168.35 
5,039.39 
7,217.73 
270.78 
5,550.16 
5,820.94 
, 252.40 
10.77 
4.24 
3.87 
271.28 
40.79 
8.20 9.11 
505.24 465.54 
301.41 355.30 
97.97 116.62 
138.80 101.12::~~ : 
75.74 Ji;G1i~~ 1-----_;.;;;.;.;_;+----fr~~ ~· 1,172.10 1. tM:s II'• 
1,426.20 1.396.\'7 1t ugram !:' 
. :] 
7,792.34 7,217,?3 . ~· 
e"~--cg~'7J "· * ···-A. 
B. 
C. NIIT Learning Systems Limited 
Regd Office: Plot No. 85, Sector -32, Institutional Area, Gumgram -122001 (Haryana) India 
Tel :<PRESIDIO_ANONYMIZED_PHONE_NUMBER> Fax: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> Website: http://www.niitmts.com 
Corporate Identity Number : L 72200HR2001PLC099478 
Email : <PRESIDIO_ANONYMIZED_EMAIL_ADDRESS> 
Standalone Statement of Cash Flows 
Period ended 
Particulars September 30, 2024 September 30. 2023 
Unaudited Unaudited 
CASH FLOW FROM OPERATING ACTIVITIES: 
Profit before exceptional items and Tax 914.67 389.68 
Adjustments to reconcile profit before tax to net cash flows 
Depreciation and amortisation expenses 136.55 89.32 
Advances from customers written back (0.11) (2.42) 
Allowance for expected credit Joss (net of reversal) (0.16) 0.61 
Allowance for doubtful advances and other receivables (net of reversal) - (0.62) 
Allowance for slow/ non-moving inventory (net of reversal) (1.44) (1.16) 
Unrealised Foreign Exchange Loss I (Gain) (net) 9.93 (8.00) 
Finance costs 15.36 6.50 
Share based payment expense 57.20 51.87 
Interest income from deposits with Banks and Financial Institutions (21.13) (19.76) 
Unwinding of interest on security deposit given (1.04) (0.58) 
Unwinding of deferred income on advances received (0.60) (0.31) 
(Gain)/ Loss on termination of leases (net) (0.02) O.oI 
Dividend income from subsidiary (370.96) -
Loss I (Gain) on sale/ disposal of Property, Plant and Equipment and Intangible 1.49 (0.63) assets ( net) 
Net gain on. changes in fair value of investments through profit and Joss (131.33) (83.31) 
Operating cash flows before changes in working capital 608.41 421.20 
Chan~e in assets and liabilities 
Decrease/ (Increase) in Trade Receivables (105.63) 230.82 
Decrease / (Increase) in Inventories 1.87 1.32 
Decrease/ (Increase) in Non-Current Financial Assets - (32.78) 
Decrease / (Increase) in Current Financial Assets 190.57 (444.36) 
Decrease / (Increase) in Other Non-Current Assets (0.82) 0.09 
Decrease / (Increase) in Other Current Assets (189.43) (44.14) 
(Decrease) / Increase in Trade Payables 35.39 (51.17) 
(Decrease) / Increase in Provisions-Current 27.47 31.41 
(Decrease)/ Increase in Other Current Liabilities (18.54) (59.82) 
(Decrease)/ Increase in Other Non-Current Financial Liabilities 1.37 8.86 
(Decrease) / Increase in Other Current Financial Liabilities (68.51) (19.31) 
Net cash flows from operations before tax 482.15 42.12 
Direct Tax-(paid including TDS) / refund received (net) (73.57) (45.09) 
Net cash flows from /(used in) Operating activities before Exceptional Items 408.58 (2.97) 
Exceptional Expenses in relation to Scheme of arrangement and Strategic initiatives . (34.93) 
Net cash flows from /(used in) operating activities (A) 408.58 (37.90) 
CASH FLOW FROM INVESTING ACTIVITIES: 
Purchase of Property, Plant and Equipment (including Right of Use Assets, internally (195.03) (207.40) generated Intangible Assets and Capital Advances) 
Proceeds from sale of Property, Plant and Equipment 1.51 3.51 
Interest received from deposits with Banks and Financial Institutions 0.44 29.93 
Dividend received from subsidiary 370.96 -
Placement ofFixed Deposits from/ with Bariks (net) (0.42) (54.00) 
Encashment of Deposits with Financial Institutions (net) . 449.00 
Purchase of Mutual Funds (2,214.39) (729.97) 
Proceeds from sale of Mutual Funds 1,930.93 644.05 
Expenses incurred on transfer of investment in subsidiaries - (38.13) 
Net cash (used in)/ flows from investing activities (B) (106.00 96.99 
CASH FLOW FROM FINANCING ACTMTIES: 
Proceeds from issue of shares under Employee stock options scheme 50.06 -
Share Application Money Received . 3.74 
Payment of principal portion oflease liabilities (20.01) (19.07) 
Payment of interest of lease liabilities (14.35) (6.05) 
Dividend paid to equity shareholders (373.52' -
Net cash used in financing activities (C) (357.82' (21.38 
Net (Decrease)/ Increase in cash and cash equivalents (A)+ (B) + (C) (55.24' 37.71 
Cash and cash equivalents at the beginning of the year 96.18 1.84 
Cash and cash eauivalents as at the end of the neriod / vear 40.94 39.55 fRs. in Millions) 
Year ended 
March 31. 2024 
Audited 
1,254.90 
193.42 
(2.43) 
0.29 
0.23 
(1.28) 
(16.98) 
27.84 
83.92 
(36.26) 
(1.41) 
(0.84) 
(0.04) 
(335.53) 
(0.73) 
(175.19) 
989.91 
212.66 
1.74 
(33.41) 
(113.25) 
0.14 
(58.48) 
(18.13) 
(74.44) 
(1.31) 
11.41 
107.26 
1,024.10 
(136.38' 
887.72 
(35.54) 
852.18 
(422.71) 
4.26 
52.65 
335.53 
(154.00) 
328.90 
(2,621.87) 
2,077.46 
(38.56) 
(438.34 
75.83 . 
(32.85) 
(26.78) 
(335.70' 
(319.50' 
94.34 
1.84 
96.18 Notes to the Standalone Financial Results:-NIIT Learning Systems Limited 
Regd Office : Plot No. 85, Sector -32, Institutional Area, Ourugrem -122001 (Haiyana) India 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> Fax: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> Website: http://www.niitmts.com 
Corporate Identity Number: L72200HR2001PLC099478 
Email : <PRESIDIO_ANONYMIZED_EMAIL_ADDRESS> 
] The above results were reviewed and recommended by Audit Committee and approved by the Board of Directors at its meeting held on October 23, 2024. 
2 The standalone financial results have been prepared in accordance with applicable Indian Accounting Standards as prescribed under section 133 of the Companies Act 2013 read with rule 3 of 
the Companies (Indian Accounting Standards) Rules 2015 (as amended) and presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure 
Requirements) Regulations, 2015 (as amended), ("Listing Regulations1 
3 During the quarter, under the NLSL Employee Stock Option Plan 2023 (NLSL ESOP 2023-0), 196,006 equity shares were issued, 6,668 options lapsed and 7,655,659 options remained 
outstanding as on September 30, 2024. Additionally, the Company has granted 2,683,750 stock options to eligible employees under the NLSL Employee Stock Option Plan 2024 (ESOP 2024), 
with an exercise price of Rs. 44S.1S per option, on July 1, 2024 and 7,500 stock options lapsed/cancelled. 
4 Exceptional items in Standalone Financial Results inciude the followin11: 
/Rs. in Millions) 
Preceding3 Corresponding 3 Year to date figures Year to date figures Previous year 
Particulars 3 months ended months ended months ended for the current for the previous ended September 30, 2024 June 30, 2024 September 30, period ended period ended March 31, 2024 2023 Sep tent ber 30,2024 September 30, 2023 
Unaudited Unaudited Unaudited Unaudited Unaudited Audited 
(Refer note 6) (Refer note 6) 
Exoenses: 
Expenses incurred towards Scheme of -- (5.02) - (13.67) (13.67) Arrangement (Refer note 6) 
Total -- (5.02\ -(13.67) '13.67 
5 the Company is engaged in providing Education & Training Services in a single segment. Based on "Management Approach", as defined in Ind AS 108 -Operating Segments, the Chief 
Executive Officer and Chief Financial Officer of the Company are considered as Chief Operating Decision Makers (CODM) who evaluate the performance and allocate resources based on the 
analysis of performance of the Company as a whole. Its operations are, therefore, considered to constitute a single segment. 
6 The National Company Law Tribunal (NCLT), Chandigarh Bench vide Order dated May 19, 2023 sanctioned the Composite Scheme of Arrangement (Approved by the board of directors of 
the Company on January 28, 2022). The Scheme became effective on May 24, 2023 upon filing of the certified copies of the NCLT order; sanctioning the Scheme with the respective 
jurisdictional Registrar of Companies. Pursuant to the Scheme becoming effective, the CLO Business Undertaking was demerged from NIIT Limited (''NIIT") and transferred to and vested in 
NIIT Learning Systems Limited ("NLSL") with effect from April 1, 2022 i.e. the Appointed Date. Legal, professional and other expenses relating to the Scheme were recognized as an 
exceptional item in financial results. 
NIIT had transferred specific income, expenses, assets, liabilities and reserves of CLO Business Undertaking w.e.f. Appointed Date till Effective Date based on the allocation as prescribed in 
the Scheme and with respect to common items, the allocations were approved by the Board of Directors of the Company. 
Pursuant to the Scheme, NLSL had issued and allotted equity shares to the shareholders of NIIT whose name appeared in the register of members of NIIT as on the record date i.e. June 8, 
2023, one equity share of Rs. 2/-each in NLSL as fully paid up for every equity share of Rs. 2/-each held by them in NIIT. 
7 Previous period / year figures have been regrouped/ reclassified, to confonn to current quarter'classification, wherever required. 
Place: Gorugram 
Date : October 23, 2024 S.R. BATL/801 & ASSOCIATES LLP 
Chartered Accountants 67, Institutional Area 
Sector 44, Gurugram -122 003 
Haryana, India 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> 
Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial 
Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure 
Requirements) Regulations, 2015, as amended 
Review Report to 
The Board of Directors 
NIIT Learning Systems Limited 
1. We have reviewed the accompanying statement of unaudited standalone financial results of NIIT 
Learning Systems Limited (the "Company") for the quarter ended September 30, 2024 and year to date 
from April O 1, 2024 to September 30, 2024 (the "Statement") attached herewith, being submitted by the 
Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure 
Requirements) Regulations, 2015, as amended (the "Listing Regulations"). 
2. The Company's Management is responsible for the preparation of the Statement in accordance with the 
recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) 
"Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, 
read with relevant rules issued thereunder and other accounting principles generally accepted in India 
and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by 
the Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based 
on our review. 
3. We conducted our review of the Statement in accordance with the Standard on Review Engagemen ts 
(SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the 
Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and 
perform the review to obtain moderate assurance as to whether the Statement is free of material 
misstatement. A review of interim financial information consists of making inquiries, primarily of 
persons responsible for financial and accounting matters, and applying analytical and other review 
procedures. A review is substantially less in scope than an audit conducted in accordance with Standards 
on Auditing and consequently does not enable us to obtain assurance that we would become aware of all 
significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 
4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that 
the accompanying Statement, prepared in accordance with the recognition and measurement principles 
laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the 
Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting 
principles generally accepted in India, has not disclosed the information required to be disclosed in terms 
of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any 
material misstatement. 
For S.R. Batliboi & Associates LLP 
Chartered Accountants 
• registration number: 101049W/E300004 
Pa 
Membe No.: 094524 
UDIN:'2. 4o'l Y 5.2. Y BK i:ov 
Place: Gurugram 
Date: October 23, 2024 
    
Assistant: