CL Educate announces H1 FY24 results, Total Revenue grew by 15%, Biz PAT grew by 18%

By India Education Diary Bureau Admin On Nov 4, 2023

Delhi : CL Educate Ltd. (BSE: 540403), (NSE: CLEDUCATE), has reported 15% growth in its Total Revenue on a Y-o-Y basis. The total revenue generated by the company has grown to ₹186.3 crore in the half year ended 30 September 2023 from ₹162.4 crore in half year ended 30 September 2022.

The Profit After Tax stood at ₹11.0 crore for the half year ended 30 September 2023 as compared to ₹9.4 crore generated from business operations for the half year ended 30 September 2022.

Review of consolidated financial performance for the Half year ended 30 September 2023:

• Total Revenue grew to ₹186.3 crore for the half year ended 03 September 2023 as compared to ₹162.4 crore for the half year ended 30 September 2022. This includes an award received in a matter under litigation.

• The company has witnessed enhancement in its MarTech business margins, leading to a 22% increase in EBITDA. For the half year ended 30 September 2023, the EBITDA stood at ₹22.8 crore as compared to ₹18.6 crore for the half year ended 30 September 2022.

• The company has reported a PAT of ₹11.0 crores for the half year ended 30 September 2023 as compared to ₹9.4 crores generated from business operations for the half year ended 30 September 2022.

Review of consolidated financial performance for the Quarter ended 30 September 2023:

• Total Revenue grew by 3% to ₹94.0 crore for the quarter ended 30 September 2023 as compared to ₹91.2 crore for the quarter ended 30 September 2022.

• The EBITDA grew by 22% to ₹11.7 crore for the quarter ended 30 September 2023 as compared to ₹9.6 crore for the quarter ended 30 September 2022.

• The company has reported a PAT of ₹5.6 crores for the quarter ended 30 September, 2023 as compared to ₹4.4 crores generated from business operations for the quarter ended 30 September 2022.

Commenting on the half yearly results, Mr. Arjun Wadhwa, CFO, CL Educate said: “We are continuing to build on the positive momentum that we witnessed in Q1 with revenues now consistently returning to pre-COVID levels. We hope to continue this growth trajectory in the second half of the year yet being mindful that the change in the law examination cycle will impact our EdTech business. The MarTech business meanwhile continues to see us focus on international markets with Singapore, US and Indonesia set to play an important role in our future growth.”