Wednesday, April 12, 2023

Jaro Education Reports 100% EBITA Increase In FY 2022-23 Over FY 2021-22

* Targeting INR 200 Crores in Net Booking Value (net revenue) & INR 450 crores in Gross Booking Value by the end of 2023-24

Jaro Education, India’s leading higher Edtech firm, has reported a remarkable 100% increase in EBITA over the fiscal year 2021-22, demonstrating the company's strong financial performance and efficient operations. With an unwavering commitment to growth and innovation, Jaro Education has set an ambitious target of INR 200 crores in net booking value (net revenue) for the fiscal year 2023-24, with over 100% year-on-year increase in EBITA.

Jaro Education's provisional net fee value (net revenue) for the fiscal year 2022-23 stands at over INR 150 crores, marking an impressive 90% growth over the previous financial year. The company's notable growth has been driven by the expansion of its product portfolio, which witnessed a surge of 50% and is predicted to exceed 50% in FY 2024. Additionally, Jaro Education's net profit (PAT) increased substantially by 146% from the previous financial year, underscoring the company's strategic planning and operational efficiency.

Dr Sanjay Salunkhe, Founder & CMD of Jaro Education, stated, "Our net fee value (net revenue) has grown substantially with a remarkable EBITA increase of 100%. Looking ahead, we are confident in our ability to continue this upward trajectory, targeting an INR 450 crores gross fee value and EBITA increase of more than 100% at the end of FY24. Jaro Education has been a self-funded and profitable company since its inception that is propelling the Edtech market's accelerated growth."

Jaro Education, a prominent player in the Edtech industry, has solidified its position by collaborating with renowned educational institutions like Michigan Ross, Wharton, IIMs and IITs, among others. The company's remarkable achievements have been recognized through numerous awards, such as the Edtech Leadership Award, Best Employer Award, and Top 20 sustainable companies to work for, reflecting its dedication to excellence and impact in the education sector. It is amazing to see such wonderful revenue growth and profitability when the majority of the players are struggling despite having good funding. To cater to the increasing demand for its services, the company has expanded its workforce by 30% and aims to increase 25-30% more in the next fiscal year. Jaro Education is now planning to explore international expansion and divest, with a focus on partnerships with globally recognized institutions like Ivy League and other leading Indian Institutions. The company's commitment to providing quality education positions it as a major player in the higher education landscape.

About Jaro Education

Jaro Education is India's most trusted online higher education company and a pioneer in the Executive Education space since July 2009 and has been profit-making since its inception, and it is self-funded. The company aims to nurture entrepreneurs & working professionals from entry-level to C-Suite level in every field and industry by offering executive education programs that cater to their requirements.

Recognized for changing the landscape of online education in India, Jaro Education offers more than 50+ management, technology and techno-functional programs in collaboration with reputed universities and institutes such as Michigan Ross, Wharton Interactive (An initiative of The Wharton School - University of Pennsylvania), Rotman School of Management (University of Toronto), IIM Ahmedabad, IIM Kozhikode, IIM Indore, IIM Tiruchirappalli, IIT Delhi, IIT Madras Pravartak, E&ICT, IIT Guwahati and more.

Jaro Education, with its strong domain expertise and insightful online programs, has transformed the careers of over 300,000 professionals in the last 13 years. The company has further strengthened its reach with 20+ learning centres spread across India and has expanded its global footprint in the USA and Singapore.

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