Higher enrollment drives earnings at STI Holdings – BusinessWorld Online
STI EDUCATION SYSTEMS Holdings, Inc.’s net income rose 18% in the third quarter of its fiscal year to P706.6 million from a year earlier, boosted by higher student enrollment.
Revenue rose 8% to P1.51 billion, the listed school operator said in a statement on Thursday.
STI said enrollment for school year 2024-2025 rose 15% to 138,060 students from a year earlier.
Operating income increased 18% to P774.4 million on better operational performance and cost management efforts.
For the first nine months ended March, net income grew 45% to P1.62 billion from a year ago, the company said. Revenue went up 23% to P4.14 billion, while earnings before interest, taxes, depreciation and amortization rose 32.2% to P2.34 billion.
“The significant net income hike was mainly driven by higher enrollment numbers due to the strong demand for the quality education offered by subsidiaries STI Education Services Group (STI-ESG), STI West Negros University and iAcademy,” STI said.
STI-ESG offers associate and baccalaureate degrees and technical-vocational programs in information and communication technology, arts and sciences, business and management, education, engineering, hospitality management, tourism management, engineering, education, psychology and criminology.
STI West Negros offers programs and courses ranging from pre-elementary to graduate levels, while iAcademy offers programs in senior high school and college on computing, business and design.
STI shares were unchanged at P1.34 each. — Revin Mikhael D. Ochave
