NIIT Learning Systems (NIITMTS) reported mixed Q2 FY26 financial results.

Revenue hit ₹475.7 Cr, up 20% YoY and 5% QoQ, with Technology & Telecom being a key segment contributor, growing to 30% of the revenue mix.

The MST group acquisition also boosted the top line.

EBITDA grew 3% YoY to ₹96.6 Cr, though the margin dipped to 20%. Profit After Tax (PAT) declined 18% YoY to ₹47.0 Cr, with EPS at ₹3.4. This profit dip was mainly due to significant acquisition-related costs (₹12.0 Cr) and lower treasury income.

Key strategies include expanding market share by deepening customer relationships and leveraging AI-first offerings, which now account for about 10% of revenue.

Recent developments include 3 new managed learning services (MTS) contracts, 3 renewals, and 1 expansion, bringing the total MTS client count to 104. The company maintains a strong revenue visibility of $409 Mn.

Management notes that clients prioritize cost efficiency amid global uncertainty, creating outsourcing opportunities but also leading to decision delays.

Net cash stands at ₹591.7 Cr after a ₹178.7 Cr acquisition payment.