Jaro Institute of Technology Management and Research Limited Financial Results – FY24

Mumbai, July 24, 2024: Jaro Institute Of Technology Management And Research Limited’s financial results for the year ended March 31, 2024.

FY24 – Highlights

• Revenue was at ₹ 202.60 crore, as compared to ₹ 124.60 crore in FY23, grown by 62%
• EBITDA was at ₹ 61.17 crore, as compared to ₹ 23.23 crore in FY23, grown by 163%
• Net profit was at ₹ 39.44 crore, as compared to ₹ 11.52 crore in FY23, registered a growth of 242%

Operational Highlights of FY24

• The company reached all-time high in student enrolment in FY24 of more than 29,000 learners
• The Board of Directors of recommended issue of Bonus share in the ratio of 1:3 i.e. 1 (One) equity share for every 3 (Three) shares held by the shareholder
• The Board of Directors of the company also announced interim dividend of 10% on a face value of Rs. 10 per share for the financial year 2024 for its eligible shareholders

Commenting on the results, Dr. Sanjay Salunkhe, CMD of Jaro Education said “I am pleased to report that FY24 has been the best in the company’s history, recording all-time high revenue, profitability, and student enrolments. Our curated offering of high quality, affordable and customized programs, combined with strategic affiliations with top-tier Partner Institutions has boosted enrolments for our online, hybrid and in-person degree programs, from 21,786 in FY23 to over 29,000 in FY24. We are delighted to declare bonus and interim dividend as part of our endeavour to reward our shareholders and will be filing DRHP shortly.”