Ed-tech platform Information Technology Learning Hub LLP (ITLH) plans to launch new courses on ReactJS and Machine Learning (ML) by September 2022, Alex George, co-founder, managing director, ITLH told FE Education online. “The duration of the course is three months with a course fee of Rs 25,000,” George said. The classes of ReactJS programme are scheduled to commence in November, 2022. Furthermore, in FY23, the company aims to clock a turnover of Rs 4.5 crore on the back of gross profit of Rs 90 lakh. “By Q4, FY23, we aim to enter the United Arab Emirates (UAE), with a focus on Abu Dhabi, Qatar and Dubai to offer the – user interface and user experience (UI/UX) courses,” George added.
Regulatory files accessed by business intelligence platform Tofler revealed that in FY21, ITLH’s revenue from operation (total income) increased 47% to Rs 26 lakh in FY21 from Rs 18 lakh in FY20. The company posted a net loss of Rs 32 lakh in FY21, from net profit Rs 86,000 in FY20. In FY22, the company claims to have clocked a gross revenue of Rs 95 lakh on the back of a loss of Rs five lakh. “In first four months of FY23, we have generated a gross revenue of 98 lakh,” George noted.
The ed-tech firm claims to monetise by offering its products to students and working professionals. According to George, the platform offers two types of courses, firstly, six months courses at an average ticket price of Rs 65,000 and second is three months courses with an average cost of Rs 35,000. The courses which are currently offered by the platform include UI/UX intermediate and advanced courses, and full stack web development programmes. In FY22, the company claims to have enrolled 180 students. In FY23, the firm aims to enroll 720 students. “In FY22, the monthly enrollment rate was 15 students, which now stands at 45 students,” George added.
Furthermore, the ed-tech firm plans to open its second office in Bengaluru by December 2022. Currently, the company is based in Navi Mumbai. According to George, in FY23, the company aims to expand in tier 2 and 3 cities in India. “We also aim to offer placement opportunities to students after completion of the certification courses,” George added.