Targeting INR 200 Crores in Net Booking Value (net revenue) & INR 450 crores in Gross Booking Value by the end of 2023-24
Bangalore, 12th April 2023: 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.
