Veranda Learning Solutions Ltd, the Chennai-based education company, reported significant reduction in net loss to ₹1.53 crore in the second quarter ended September 30, 2023 against a net loss of ₹21.13 crore for the corresponding quarter last year. Revenue more than doubled to ₹98 crore (₹37 crore) due to good performance by all its verticals.
The total number of students trained by the Veranda Group in the first half stood at 4,21,327 with 2,00,574 students trained this quarter, says a company release.
Veranda offers a bouquet of training programs for competitive exam preparation, including State Public Service Commission, Banking, Insurance, Railways, IAS, and CA. It provides services through its subsidiaries - Veranda Race, Veranda IAS, JK Shah Classes, andEdureka – the customer-facing brand of Brain4ce Education Solutions.
Suresh Kalpathi, Executive Director and Chairman, Veranda Learning Solutions, in a release said, after a challenging period of assimilating assets in the education ecosystem over the past two years, the company is now reaping the rewards. “We have successfully stitched a fabric through strategic acquisitions, further enhancing our competitive advantage in the market. We are close to achieving the dream of being present across the entire education value chain.”
On the NSE, the company’s share price closed at ₹213.15, down by 4.03 per cent.