STI Education Systems Holdings Inc. on Thursday reported nine-month income nearly double from previous to P579.3 million from a year earlier of only P297.2 million on the transition back to in-person classes.
The company reported generating gross revenue of P2.4 billion, or 27 percent higher than only P1.9 billion last year due to the increase in the number of enrollees and improvement in the enrollment mix for school year 2022-2023.
STI’s fiscal year starts 1 July every year and ends on 30 June the following year.
Tuition and other school fees totaled P2.1 billion in the nine-months, an increase of 25 percent from the same period last year.
The number of new students enrolled in Commission on Higher Education programs improved 17 percent or 3,707 to 25,849 from 22,142 for school year 2021-2022 and school year 2022-2023, respectively.
STI said its schools serve 94,312 enrollees for SY 2022-2023, 14 percent or 11,683 higher than the 82,629 students in the previous school year.
“STI Education Services Group’s wholly-owned and franchised schools posted an enrollment of 81,697 students, 8,947 or 12 percent more than the enrollment in SY 2021-2022.
Percentage-wise, STI WNU (West Negros University) posted the highest increase at 35 percent for this school year compared against last year, the STI said.
