STI EDUCATION SYSTEMS Holdings, Inc. saw its attributable net income rise by 76% to P902.54 million for the six-month period ending December 2024, driven by higher enrollment.
The listed educational institution reported consolidated revenue of P2.63 billion for the first half of its fiscal year, which runs from July to June. This represents a 34.2% increase from P1.96 billion in the same period the previous year.
The company’s three-month attributable net income for the period ended December increased to P641.40 million, up by 30.3% from the P492.41 million previously.
While revenues for the three months-to-December went up by 21% P1.59 billion from the P1.31 billion in the comparable period a year ago. Its operating income was recorded at P710.6 million, climbing by 25.6% from the P565.6 million in the same quarter last year.
STI attributed its growth for the period to the increase of enrollees across its subsidiaries particularly in STI Education Services Group (STI ESG), STI West Negros University (STI WNU), and iACADEMY for school year 2024 to 2025.
The company said it recorded a 15% increase in students across its unit to 138,000 from 120,000 in the previous school year.
STI ESG recorded a 17% increase in enrolment to 121,374 students from 103,982 in the school year 2023 to 2024; while STI WNU in Bacolod City said students rose by 9% to 14,503 from 13,328 previously.
STI Holdings’ financial year follows its academic calendar beginning July 1 and ending on June 30 of the following year.
At the stock exchange on Monday, shares in the company closed unchanged at P1.41 each. — Ashley Erika O. Jose
