Veranda Learning Solutions Posts 52% Q3 Revenue Growth, 4th Consecutive PAT-Positive Quarter
Chennai, Feb 6: Veranda Learning Solutions Limited, a publicly listed education company and a pioneer in end-to-end education services, announced robust financial results for the quarter ended December 31, 2025, highlighting continued execution of its Veranda 2.0 strategic initiatives.
Financial Highlights:
Veranda Learning Solutions recorded revenue from operations of INR 117 crore in Q3 FY26, a 52% year-on-year increase driven by strong bookings across Government Test Prep and Commerce verticals, multi-city course launches, and strategic partnerships. Gross profit rose 47% YoY to INR 76 crore, resulting in a gross margin of 65%. Operational efficiency measures—including customized learning, process standardization, cross-leveraging of resources, and cost optimization—led to a 328% YoY increase in EBITDA to INR 53 crore, with EBITDA margins expanding to 45%.
Profit after tax (PAT) for Q3 FY26 grew 110% YoY to INR 17 crore, aided by reduced finance costs and depreciation. The nine-month performance was equally strong, with revenue reaching INR 349 crore, up 29% YoY. EBITDA surged 409% YoY to INR 150 crore, and PAT rose 119% YoY to INR 43 crore, underscoring consistent execution and strong operational leverage across all business units.
Segmental Performance:
- Academics: Revenue grew modestly in Q3 FY26 to INR 7.4 crore, up 1% QoQ but down 7% YoY, with 9M FY26 revenue at INR 24.9 crore, a 21% YoY increase. EBITDA for the quarter was INR 5.7 crore, up 6% QoQ and 74% YoY.
- Commerce Test Prep: Revenue in Q3 FY26 was INR 80.2 crore, down 7% QoQ but up 111% YoY, with 9M FY26 revenue at INR 237.4 crore, a 72% YoY growth. EBITDA for Q3 stood at INR 35 crore, down 15% QoQ but up 146% YoY.
- Government Test Prep: Revenue for the quarter was INR 29.1 crore, down 12% QoQ and 6% YoY, with 9M FY26 revenue at INR 85.7 crore, a 23% YoY decline. EBITDA for Q3 FY26 was INR 4.7 crore, down 21% QoQ but up 279% YoY.
Operational Highlights:
- Academics launched JEE/NEET courses and daycare programs, conducted expert-led webinars, and strengthened brand recall through digital marketing.
- Commerce Test Prep scaled up with increased collections, added six new franchisees, and established experience centres for BB virtuals.
- Government Test Prep achieved record admissions of over 10,000 students in Q3, crossed 5 lakh YouTube subscribers, and maintained above-average exam clearance rates.
- Vocational programs generated revenues through internal monetization, launching 35+ global courses.
Strategic Initiatives – Veranda 2.0:
The company advanced the demerger of its Commerce Vertical, obtaining NOC from exchanges and filing the scheme with NCLT to create J.K. Shah Commerce Education Ltd., unlocking focused growth and long-term shareholder value. Additionally, Veranda formed SNVA Veranda via strategic disinvestment, combining its skilling brands with a global university network, targeting 200,000+ learners, ₹250+ crore revenue in FY27, and ₹60+ crore EBITDA, with plans for a separate listing.
Management Comment:
Mr. Suresh S. Kalpathi, Executive Director and Chairman, stated:
“Our Q3 and 9M FY26 performance reflects strong execution, operational excellence, and disciplined strategic expansion. All business segments delivered healthy growth, and with the approval of the commerce demerger and completion of vocational divestment, we are better positioned to focus on core verticals—Academics and Government Test Preparation. Our priorities going forward include strengthening faculty, accelerating digital-led admissions, deepening partnerships, and launching higher-value programs to sustain growth and create long-term value.”