STI revenues up 4%

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    STI Holdings Inc. said profit for its second quarter for fiscal year ending March 2020 reached P157.8 million, up 20 percent from last year’s P131.8 million.

    Revenues reached P797.4 million, up 4 percent from P766.1 million last year.

    STI said the increase stemmed from a 41 percent growth in new enrollees under programs regulated by the Commission on Higher Education, resulting in a total of 45,902 tertiary education population.

    This, in turn, accounts for 55 percent of the company’s 83,967 total student population for the current school year.

    In addition, the margin of earnings before interest, taxes, depreciation, and amortization grew to 49 percent from 40 percent in the same period last school year. Operating income likewise went up by 29 percent to P203.6 million from P158 million year-on-year.