STI Holdings, owner of one of the largest networks of private schools in the Philippines, reported a net income of ₱157.8 million for the three-month period ending September 30, 2019.
The amount is 20 percent or ₱26 million higher than ₱131.8 million during the same period last year.
Based on its quarterly report submitted to the Philippine Stock Exchange, the company also said gross revenues rose four percent or ₱31.3 million to ₱797.4 million from ₱766.1 million in the second quarter of last school year.
Gross profit, meanwhile, increased by five percent or ₱25.2 million year-on-year.
The increase stemmed from the 41 percent growth in new enrollees under programs regulated by the Commission on Higher Education that the group posted for this school year, resulting in a total of 45,902 tertiary education population. This, in turn, accounts for 55 percent of the company’s 83,967 total student population for the current school year.