"The company conducted a reassessment of the existing business, products and geographies with a view to exit less attractive business and focus on asset-light, growth-oriented businesses," NIIT Vice Chairman and Managing Director Vijay Thadani told reporters.

This resulted in a one-time net provision amounting to Rs 136.3 crore to be taken in the fourth quarter financial, he added. On a continuing basis (without the impact of the restructuring), the company reported a net loss of Rs 14.9 crore compared to a net profit of Rs 14 crore in the January-March 2014 quarter.

Its revenue declined to Rs 223.5 crore in the reported quarter as compared to Rs 232.9 crore in the year-ago period. On a continuing basis, NIIT reported a net loss of Rs 2.2 crore for the financial year ending March 31, 2015 against profit of Rs 17.8 crore in 2013-14.

Its revenues increased to Rs 957.4 crore in 2014-15 from Rs 951 crore in 2013-14. Rahul Keshav Patwardhan, who was appointed as the CEO Designate for NIIT in October 2014, will take charge as the Chief Executive Officer of the company on May 28.

"It is exciting to lead NIIT in its next phase of growth. Global Corporate Training Outsourcing is growing steadily; the multi-sector Indian market for quality Career Skills Training has huge potential; while technology and policy shifts are creating space for disruptive new training business models," NIIT CEO Rahul Patwardhan said.

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