CL Educate Ltd. (BSE: 540403), (NSE: CLEDUCATE), has reported 11% growth in its total revenue and EBITDA on a year on year basis. The total revenue generated by the company has grown to Rs 254.9 crore during the period ended 31 December 2023 from Rs 229.2 crore for the same period in 2022. The Profit After Tax generated from business (excluding exceptional items) stood at Rs 12.8 crore for the period ended 31 December 2023 similar to the profit for the same period in 2022, as per the official release from the company.
As per the company, it has witnessed enhancement in its MarTech business margins, leading to a 11% increase in EBITDA. For the period ended 31 December 2023, the EBITDA stood at Rs 29.7 crore as compared to Rs 26.7 crore for the same period in 2022.
Further, the company has reported a PAT of Rs 12.8 crores for the period ended 31 December 2023 similar to profit generated from business operations for the same period in 2022.
Review of consolidated financial performance for the Quarter ended 31 December 2023:
• Total Revenue grew by 3% to Rs 68.6 crore for the quarter ended 31 December 2023 as compared to Rs 66.8 crore for the quarter ended 31 December 2022.
• As expected, the EBITDA was recorded at Rs 6.9 crore for the quarter ended 31 December 2023 as compared to Rs 8.1 crore for the quarter ended 31 December 2022, which was boosted by certain one-time write backs.
“As anticipated Q3 was a muted quarter in India due to the prolonged festive season whose impact was accentuated by the change in the law exam season. Our international businesses, both MarTech & EdTech, continue to exhibit excellent growth across all key markets including Singapore, the Middle East, the US and Indonesia. Overall, revenue and EBITDA are in line with our growth plans for FY24, with January also providing indications that we will end the fiscal year on a positive note,” Arjun Wadhwa, CFO, CL Educate, said.