NIIT Learning Systems Q3 FY26: Revenue up 19% YoY to ₹4,997M, AI-enabled revenue at 11%
NIIT Learning Systems reported Q3 FY26 revenue of ₹4,997 million, up 19% YoY. AI-enabled revenue reached 11% of the business. The company acquired SweetRush for up to US$26 million. For Q4 FY26, revenue growth is projected at 10-12% QoQ. Full-year FY26 revenue growth is expected at 14.5-15% in constant currency.
The positive financial results, coupled with a significant acquisition and clear future guidance, are expected to have a substantial impact on investor perception and the company's market position.
The company reported strong year-on-year revenue growth, improved profitability, and a strategic acquisition, indicating positive business momentum.
NIIT Learning Systems Limited announced its Unaudited Financial Results for the quarter ended December 31, 2025, during an Investors/Analysts Call held on January 28, 2026. The company reported a consolidated revenue of ₹4,997 million, marking a 5% increase quarter-on-quarter and a significant 19% rise year-on-year. In constant currency, revenue grew by 2.5% quarter-on-quarter and 11% year-on-year. Excluding a real estate contract that concluded on June 30, 2025, the growth was even more robust at 9% quarter-on-quarter and 28% year-on-year, with organic revenue growth standing at 14% year-on-year.
The company highlighted sustained demand for outsourcing and transformation, driven by a focus on cost agility and productivity. AI continues to be a key focus, with AI-enabled revenue contributing approximately 11% of the business in the quarter. The company signed four new MTS clients (one in Life Sciences, two in BFSI, one in Energy) and completed four renewals, increasing its MTS customer tally to 107. Revenue visibility improved to US$415 million.
Profitability remained resilient, with EBITDA at ₹1,038 million, up 10% year-on-year, and an EBITDA margin of 20.8%. Margins benefited from improved utilization and a stronger contribution from MST. The company also announced the acquisition of SweetRush, an AI-enabled learning experiences provider, for up to US$26 million. This acquisition is expected to strengthen NIIT's position in outcomes-led performance-critical learning and complement its managed learning services engine.
Looking ahead, NIIT Learning Systems provided guidance for Q4 FY26, expecting revenue growth of 10% to 12% quarter-on-quarter or 25% to 26% year-on-year in constant currency terms. For the full year FY26, the company projects revenue growth of 14.5% to 15% in constant currency, with margins expected to be in the 20% to 21% range.
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