Veranda Learning sustains high growth: Q1 Revenue Climbs 70%, EBITDA Jumps 5X

The total number of students trained by Veranda Group for Q1FY25 was 113,262.

BRAND CONNECT

August 14, 2024 / 10:25 IST

Chennai: Veranda Learning Solutions Limited, a public listed company offering end-to-end services in the education space, announced its financial results for the first quarter ended June 30, 2024. The company sustained its impressive growth from FY24, capitalizing on new opportunities and continuing to deliver a strong performance. During the quarter, operating revenue stood at ₹118.99 crores, reflecting a growth of 72.69% from Q1FY24. The company achieved a robust EBITDA of ₹27.61 crores, highlighting its enhanced operational efficiency and effective strategy execution—representing a remarkable 400% increase from the ₹5.64 crores reported in Q1FY24. Overall, total revenue for Q1FY25 stood at ₹126.42 crores. The total number of students trained by Veranda Group for Q1FY25 was 113,262.

Mr. Suresh Kalpathi, Executive Director and Chairman, commented, "I am delighted to announce that we have achieved a stellar growth in Q1FY25, surpassing expectations during what is traditionally an off-season for the education industry. This performance underscores the strength and resilience of our business model. Our strategic partnerships have been key to this success. The expansion of our partnership with Cambridge to introduce educational programs in Eastern India, our strategic alliance with Pearson to launch an extensive test preparation program for the Bank PO examination, and our collaboration with KSDC to implement a Wealth Management Course are yielding tangible results. These efforts deepen our presence in various verticals and enhance the overall quality and reach of our educational offerings.As we look to the future, our optimism is buoyed by our strong start to the year. We are steadfast in our goal to achieve a revenue target of ₹600 crore in FY25, reflecting our commitment to excellence and confidence in the sector's potential. Our unwavering focus on delivering consistent operational and financial results is key to maintaining investor confidence and propelling Veranda Learning Solutions to new heights. We are excited about the journey ahead and remain committed to our mission of transforming the educational landscape."

Veranda Learning Solutions is expanding its support to schools in Eastern India through a partnership with Cambridge, starting with Kolkata. This aims to integrate 500 new schools into the Cambridge network, providing support including teacher training and performance monitoring. Pearson is partnering with Veranda Race to launch a hybrid test preparation program for the Bank PO exam, leveraging Pearson’s educational expertise. Veranda has also signed a MoU with Sri Krishna Arts and Science College to offer a B. Com course with ACCA accreditation, aiming to train over 300,000 students in the next 5 years. Adding to our partnership with Govt. Skill Development departments, TNSDC and APSCHE, Veranda is working with Karnataka Skill Development corporation to implement a Wealth Management Course as part of a state initiative, enhancing its presence in Karnataka. With a strong performance in Q1FY25 and these strategic partnerships, Veranda Learning Solutions is well-positioned for continued growth and success in the education sector.Disclaimer: “This is an advertorial and does not have journalistic/editorial involvement of Moneycontrol. Moneycontrol does not endorse the contents of the article and/or claims/views expressed herein, nor does it assume any responsibility for verifying them. Readers should make their independent inquiries and take informed decisions.”

BRAND CONNECT

*Disclaimer - Brand Connect is a solution that allows brands to break the queue to gain better engagement among our audiences

first published: Aug 14, 2024 10:25 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!