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Veranda Learning Solutions has reported 70% increase in its year-on-year (YoY) income, demonstrating its continued momentum and robust performance. The company, which offers courses preparing students for various competitive exams in India, has announced its financial results for the first quarter of FY25.
NEW DELHI: Veranda Learning Solutions has reported 70% increase in its year-on-year (YoY) income, demonstrating its continued momentum and robust performance. The company, which offers courses preparing students for various competitive exams in India, has announced its financial results for the first quarter of FY25.
During the quarter, Veranda achieved an operating revenue of ₹118.99 crores, reflecting a substantial growth of 72.69% compared to ₹68.90 crores in the same period last year. This growth is particularly noteworthy given that Q1 is traditionally considered an off-season period for the education industry.
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Additionally, the company reported a deferred revenue of ₹98.70 crores, which positions it strongly for continued success in the coming quarters. Total cash collections for the quarter surpassed ₹150 crores.
Veranda’s EBITDA for Q1 FY25 reached ₹ 27.61 crores, a significant increase from ₹5.64 crores reported in the same quarter last year. This notable rise underscores the company’s enhanced operational efficiency and effective strategic execution. The total number of students trained by Veranda in Q1 FY25 stood at 113,262.
The company’s total income for the quarter was ₹126.42 crores, marking a 79.37% increase from ₹70.48 crores in Q1 FY24. Gross profit for the quarter was ₹72.61 crores, up 89.16% from ₹38.38 crores in the previous year, with a gross profit margin of 61.02% compared to 55.71% in Q1 FY24. Advertising and business promotion expenses were ₹16.05 crores.
Veranda also reported an EBITDA of ₹27.61 crores, which includes an ESOP expense of ₹1.22 crores and an adjusted EBITDA of ₹28.83 crores. The finance cost for the quarter was ₹29.92 crores, encompassing ₹9.01 crores in cash interest paid on non-convertible debentures (NCDs) and non-cash expenses of ₹13.11 crores related to acquisition liabilities and accrued premiums. Depreciation costs included a non-cash expense of ₹13.45 crores due to the amortisation of intangible assets from recent acquisitions.
Commenting on the robust performance, Mr Suresh Kalpathi, Executive Director and Chairman of Veranda Learning Solutions, said, “I am delighted to announce that we have achieved stellar growth in Q1 FY25, surpassing expectations during what is traditionally an off-season for the education industry. This performance underscores the strength and resilience of our business model, even in the face of cyclical challenges.”
He further added, “We are focusing on organic growth in all our existing segments with at least a double-digit YoY revenue growth. This quarter’s performance is a clear indication that our focus on building sustainable and profitable operations is on the right track. We are steadfast in our goal to achieve a revenue target of ₹600 crores in FY25.”
