STI profit soars 192% to P241 million

MANILA, Philippines — STI Holdings reported a net income of P241.2 million in the third quarter of its fiscal year, up 192 percent or almost thrice the P82.6 million it posted in the same period last year.

Operating income increased by 137 percent to P271.6 million.  Gross revenues jumped to P793.8 million from P589.9 million year-on-year.

For the nine-month period ending March 31, STI Holdings reported a net income of P297.2 million versus a  net loss of P31.4 million a year ago. Gross revenues, meanwhile, were up 26 percent to P1.92 billion.

The group’s improved performance comes on the back of an 18 percent increase in its overall enrollment to 82,629 students for school year 2021-2022 from 70,223 in SY 2020-2021.

Enrollment in programs regulated by the Commission on Higher Education (CHED) increased to 68 percent in school year 2021 to 2022 from 57 percent the previous school year.

STI Holdings’ full-year starts on July 1 of every calendar year (CY) and ends on June 30 of the following year.

At present, the company has three subsidiaries involved in education: the STI Education Services Group (STI ESG), STI WNU, and iACADEMY.

Of the three education services group, STI ESG offers associate and baccalaureate degrees and technical-vocational programs in the fields of information and communications technology, business and management, hospitality management, tourism management, arts and sciences, engineering and education.

STI WNU, meanwhile offers programs and courses ranging from basic education to graduate levels while  iACADEMY has senior high school and college programs centered on computing, business, and design.