Profit Surge for STI Education Systems Holdings Inc. Due to Increased Enrollments
The fiscal year ending in March 2024 proved to be profitable for Tanco-led STI Education Systems Holdings Inc., with a 93 percent increase in profits amounting to a record P1.1 billion. This surge in profits was attributed to the 38 percent increase in revenues, reaching P3.4 billion during the same period.
STI reported that the spike in profits was mainly driven by a 27 percent increase in the total number of students enrolled in the group for the school year 2023 to 2024. The educational institution operates 63 STI-branded colleges and education centers nationwide, offering associate and baccalaureate degrees, as well as technical-vocational programs.
Aside from its STI-branded institutions, STI also oversees other schools such as STI Western Negros University (WNU) in Bacolod City and iACADEMY in Makati City. The total enrollment across all schools reached nearly 120,000 students in the current school year, compared to 94,312 enrollees the previous year. Enrollment in programs regulated by the Commission on Higher Education also saw a 25 percent increase to around 83,000 students, according to STI.
In the first three months of the year, STI’s net income saw a significant surge of 63 percent to P600.3 million, with gross revenues growing by 42 percent to P1.4 billion during the same period.
Furthermore, STI announced its plans to acquire the Manila and Quezon City campuses of the Philippine School of Business Administration in February, as part of its expansion strategy.
