STI Education Systems Holdings Inc. saw earnings almost double to P1.1 billion for the nine months ending March 2024 from P579.3 million a year earlier, driven by high enrollment figures.
Gross revenues grew 38 percent to P3.4 billion from the P2.4 billion, the listed education firm said in a disclosure on Tuesday.The result, STI Holdings said, was mainly due to 27-percent growth in the total number of students for the school year 2023-2024.The Tanco Group-led firm said enrollment for the current school year had reached almost 120,000 compared to the previous year's 94,312.
The company's financial year is consistent with its academic year, which begins on July 1 and ends on June 30 of the following year.From January to March, or the third quarter of its financial year, STI Holdings' net income surged 69 percent to P600.3 million from P355.9 million.Revenues during the quarter also climbed, by 42 percent to P1.4 billion from P982.2 million.STI Holdings, through STI Education Services Group Inc.
9-Month Profit Nearly Doubles To P1B
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