LISTED STI Education Systems Holdings, Inc. saw a substantial surge in its first-quarter net income for the fiscal year ending June to P263.2 million from P19.75 million the previous year.

The growth came from higher enrollments, cost management initiatives, and sustainability investments, STI said in a stock exchange disclosure on Monday.

Total revenue surged by 60% to P1 billion, led by the 15% increase in total enrollment to a record-high 138,060 students as well as the earlier start of classes for school year 2024-2025.

Commission on Higher Education-regulated programs saw a 20% increase in enrollment to 100,000 students, signaling rising demand for the company’s higher education programs.

Gross profit rose by 87% to P706.2 million.

As of end-September, STI’s total asset value rose by 14% to P17.52 billion from P15.44 billion posted as of end-June.

“The growth was attributed to the rise in receivables arising from current enrollment and continued investments in property and equipment,” the company said.

STI Holdings said it recently acquired properties in Alabang and Tanauan in Batangas for the establishment of future STI Academic Centers, as well as ongoing renovations across existing campuses to expand classroom capacity.

The company also completed a P243.2 million School of Basic Education building at STI West Negros University (STI WNU).

STI said it implemented measures to improve operational efficiency and sustainability, such as the installation of solar panels across various campuses.

STI Holdings has three subsidiaries, namely STI WNU, STI Education Services Group (STI ESG), and iACADEMY.

STI ESG operates 63 campuses nationwide with a total capacity of 146,585 students, while STI WNU in Bacolod City can accommodate up to 15,000 students, and iACADEMY is known for its arts, computing, and design programs.

On Monday, STI shares dropped by 1.56% or two centavos to P1.26 per share. — Revin Mikhael D. Ochave