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 โน118.99 crores, reflecting a substantial growth of 72.69% compared to โน68.90 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 โน98.70 crores, which positions it strongly for continued success in the coming quarters. Total cash collections for the quarter surpassed โน150 crores.
Verandaโs EBITDA for Q1 FY25 reached โน 27.61 crores, a significant increase from โน5.64 crores reported in the same quarter last year. This notable rise underscores the companyโs enhanced operational efficiency and effective strategic execution. The total number of students trained by Veranda in Q1 FY25 stood at 113,262.
The companyโs total income for the quarter was โน126.42 crores, marking a 79.37% increase from โน70.48 crores in Q1 FY24. Gross profit for the quarter was โน72.61 crores, up 89.16% from โน38.38 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 โน16.05 crores.
Veranda also reported an EBITDA of โน27.61 crores, which includes an ESOP expense of โน1.22 crores and an adjusted EBITDA of โน28.83 crores. The finance cost for the quarter was โน29.92 crores, encompassing โน9.01 crores in cash interest paid on non-convertible debentures (NCDs) and non-cash expenses of โน13.11 crores related to acquisition liabilities and accrued premiums. Depreciation costs included a non-cash expense of โน13.45 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, โI 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.โ
He further added, โWe are focusing on organic growth in all our existing segments with at least a double-digit YoY revenue growth. This quarterโs 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 โน600 crores in FY25.โ
