CL Educate announces Q3 FY24 results, Total Revenue & EBITDA up by 11%

Delhi, February 3rd, 2024: CL Educate Ltd. (BSE: 540403), (NSE: CLEDUCATE), has reported 11% growth in its Total Revenue & EBITDA on a Y-o-Y basis. The total revenue generated by the company has grown to ₹254.9 crore during the period ended 31 December 2023 from ₹229.2 crore for the same period in 2022.

The Profit After Tax generated from business (excluding exceptional items) stood at ₹12.8 crore for the period ended 31 December 2023 similar to the profit for the same period in 2022.

Review of consolidated financial performance for the Period ended 31 December 2023:

• Total Revenue grew to ₹254.9 crore for the period ended 31 December 2023 as compared to ₹229.2 crore for the same period in 2022.

• The company 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 ₹29.7 crore as compared to ₹26.7 crore for same period in 2022.

• The company has reported a PAT of ₹12.8 crores for the period ended 31 December 2023 similar to profit generated from business operations for same period in 2022..

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

· Total Revenue grew by 3% to ₹68.6 crore for the quarter ended 31 December 2023 as compared to ₹66.8 crore for the quarter ended 31 December 2022.

· As expected, the EBITDA was recorded at ₹6.9 crore for the quarter ended 31 December 2023 as compared to ₹8.1 crore for the quarter ended 31 December 2022, which was boosted by certain one-time write backs.

Commenting on the half yearly results, Mr. Arjun Wadhwa, CFO, CL Educate said: “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.”