STI Holdings said Tuesday it rebounded in its first quarter ended 30 September booking a net income of P19.8 million after a loss of P47.6 million in the same period last year, driven to the black by strong growth in enrollment.
Owner of the largest network of private schools in the Philippines, STI said the 27 percent surge in enrollment lifted gross revenues in the quarter to P650.6 million from P500.4 million in the previous year.
Enrollment in the schools breached the six-digit mark as the number of students for SY 2023-2024 reached almost 120,000 compared to 94,312 enrollees in SY 2022-2023. The total count of new students for the current academic year reached 55,982, a 35 percent growth from 41,565 new students in the previous school year.
It said the number of students who enrolled in programs regulated by the Commission on Higher Education registered a 25 percent increase to more than 83,000 students.
A total of 103,982 of the entire student population of 119,543 enrolled in schools operated by the STI Education Services Group. The rest were students of iACADEMY and STI WNU.
