Veranda Learning Solutions, on Wednesday, reported an impressive top-line growth of 92% YoY, with Operating Revenue reaching Rs. 91.84 crores in Q3FY24, compared to Rs. 47.88 crores in the same period last year.

Operating Revenue: Rs. 91.84 crores in Q3FY24, marking a robust growth of 91.83% YoY. Total Operating Revenue for 9MFY24 stood at Rs. 259.12 crores, exhibiting a significant increase from Rs. 112.95 crores in 9MFY23.

EBITDA: Rs. 39.57 crores for 9MFY24, with an adjusted EBITDA of Rs. 44.46 crores, showcasing a remarkable turnaround from an operating loss of Rs. 13.71 crores in the previous financial year.

Student Training: The Veranda Group trained 5,57,680 students in 9MFY24, with 1,33,863 students trained during Q3.

Strategic Partnership: Veranda Learning Solutions collaborated with the Illinois Institute of Technology to offer innovative multi-disciplinary tech-focused courses, enhancing educational offerings in Information Technology and K–12 Dual Credit programs.

Acquisition: Veranda XL Learning Solutions will acquire 50% of Tapasya Educational Institutions Private Limited (TEIPL) for Rs. 120 Crore, expanding its educational services to colleges in Telangana and Karnataka.

Mr. Suresh Kalpathi, Executive Director and Chairman of Veranda Learning Solutions, expressed satisfaction with the exceptional Q3FY24 performance, highlighting a 92% YoY revenue increase and positive EBITDA. He emphasized that the company’s acquisitions and integration efforts are yielding profits and anticipated strong performance in Q4, projecting revenues of Rs. 380-400 crores for the year.

Looking ahead, Veranda Learning Solutions plans corporate restructuring initiatives to address non-cash expenditure items and aims to achieve positive Profit After Tax (PAT) in FY25. The company expects to maintain EBITDA margins of 16-18% for FY24.

The financial results underscore Veranda Learning Solutions’ commitment to sustainable and profitable growth in the education sector.