Veranda Learning Solutions, a Chennai-based education company, reported a robust Q2FY24 revenue of Rs. 100.27 crores, up from Rs. 38.77 crores YoY.

The H1FY24 EBITDA of Rs. 22.39 crores marked a substantial recovery. Total revenue for H1FY24 reached Rs. 170.75 crores, a significant increase. Veranda trained 4,21,327 students in H1FY24.

Key highlights include a YoY operating revenue growth of 166.7%, gross profit margin of 61.18% in Q2FY24, and an EBITDA of Rs. 16.75 crores in Q2FY24, a turnaround from the loss of Rs. 15.00 crores in Q2FY23.

Chairman Mr. Suresh Kalpathi attributed the success to strategic decisions and acquisitions.

Business vertical updates show strong growth in Veranda RACE, Edureka, JK Shah Classes, and Veranda Higher Education.

Recent acquisitions in VALS reported a revenue of Rs. 8.44 crores and adjusted EBITDA of Rs. 3.37 crores. Veranda also announced an investment in SmartBridge Educational Services and a Business Transfer Arrangement with Sreedhar’s College of Competitive Exams.

The future looks promising as Veranda remains committed to delivering exceptional results.