look news india
VERANDA LEARNING SOLUTIONS LTD: Veranda Learning Solutions Ltd., an education technology company providing end-to-end solutions in the education sector, reported revenues of Rs. Expected to reach. Aiming to achieve revenue target of Rs 600 crore.
The company was founded in 2018 by Kalapati AGS Group, which holds about 55 percent stake in the company. The company has expanded rapidly through acquisitions. In May, 2023, he paid Rs. Seven companies were acquired at a cost of Rs 400 crore. At its sixth annual general meeting on September 27, 2024, the company will issue non-convertible debentures, bonds or other instruments worth up to Rs 10,000 to finance its growth and expansion plans. Permission to increase the loan limit by Rs 1,000 crore.
The company aims to maintain strong operating and financial performance while taking advantage of exciting growth opportunities in the first quarter of fiscal year 2025. The company's operating income in the first quarter of fiscal year 2025 is Rs. Which was Rs 118.99 crore in the same period of the last financial year. This was 72.69 percent more than the revenue of Rs 68.90 crore. In the first quarter of FY 2025, the company's EBITDA increased five times to Rs 2.55 crore. Which was Rs 27.61 crore in the same period of the last financial year. Which was much higher than Rs 5.64 crore.
Suresh Kalpati, Executive Director and President, Veranda Learning Solutions, said, “The company continues to deliver strong operational and financial performance while capitalizing on attractive growth opportunities in Q1FY25.”
The first quarter saw impressive growth despite it being traditionally an off-season period. This significant growth reflects the company's high operating efficiency and effective implementation of its strategies. We are committed to our target of achieving a revenue target of Rs 600 crore in FY 2025. This is a milestone that reflects our commitment to excellence and our confidence in the potential of the sector.