Elevate Campuses (ELEVATE) Q4 23/24 earnings summary

Executive summary

• FY24 consolidated total income rose to INR 3,626.08 million from INR 3,009.17 million; profit for the year was INR 396.89 million versus INR 290.03 million.

• Campus hostel operations were supported by technology interventions and cost-cutting measures; the outlook was described as bright.

Financial highlights

• Consolidated revenue from operations was INR 3,470.01 million versus INR 2,925.01 million; other income was INR 156.07 million versus INR 84.16 million.

• Consolidated profit before exceptional items and tax was INR 721.99 million versus INR 560.32 million; after exceptional items, PBT was INR 621.33 million versus INR 392.00 million.

• Consolidated total comprehensive income was INR 918.68 million versus INR 290.69 million, including a INR 521.83 million bargain-purchase gain in OCI.

• Standalone total income was INR 1,679.81 million versus INR 1,489.80 million; profit for the year was INR 376.66 million versus INR 369.81 million.

• Consolidated operating cash flow was INR 2,644.51 million versus INR 2,452.27 million; cash and cash equivalents closed at INR 774.02 million versus INR 837.88 million.

Outlook and guidance

• FY24 turnover and profitability were reported as having grown significantly, with the future outlook described as bright.

• No dividend was recommended, with resources to be conserved for future growth and development.