Riding on the impressive enrollment numbers it generated in the current academic year, STI Holdings, reported a net income of P1.1 billion for the nine-month period, which ended March 31, 2024.

The amount represents a 93% increase in profits compared to the P579.3 million in net income the company posted during the same period last year, STI Holdings said in a disclosure sent to the Philippine Stock Exchange last Wednesday.
The company also said it earned gross revenues of almost P3.4 billion for the same nine-month period ended March 31, 2024, which is 38% higher compared to the P2.4 billion in revenues it generated during the same period in the previous year.

Gross profit for said nine-month period amounted to P2.4 billion, which is also a significant increase from the P1.6 billion STI Holdings gained for the same period last year. Gross profit margin also increased from 68% to 70% year on year.

“The increase was primarily driven by the 27% increase in the total number of students of the Group for SY 2023-2024,” STI Holdings said.
Education institutions under STI Holdings are composed mostly of STI- branded schools being operated by the STI Education Services Group, Inc. STI ESG has a network of 63 operating schools, comprising 60 colleges and three education centers.

Other schools belonging to STI Holdings are:

• STI WNU in Bacolod City and
• iACADEMY.

STI Holdings earlier said enrollment in their schools for School Year (SY) 2023-2024 reached almost 120,000 compared to 94,312 enrollees in SY 2022-2023, representing an increase of 27 %.

Enrollment in programs regulated by the Commission on Higher Education increased by an impressive 25% to more than 83,000 students, compared to over 66,000 enrollees in SY 2022-2023.

STI Holdings’ financial year is consistent with its academic calendar, which begins on July 1 and concludes on June 30 of the following year.

For the three months ended March 31, 2024, representing the third quarter of its financial year, STI Holdings reported gross revenues of P1.4 billion, higher by 42% than the P982.2 million it posted from the same period in the previous year.

Net income for the said three-month period was also strong at P600.3 million, which is 69% higher than the P355.9 million the company earned in the same period last year.