Share price of this small-cap stock moved up by nearly 8% to Rs. 249.30 in the trading session of Monday, compared to its previous close of Rs. 230.85, after the company announced a strategic alliance with Cambridge University Press & Assessment India Pvt. Ltd.
With a market capitalisation of Rs. 1,634.8 crores, the shares of Veranda Learning Solutions Ltd. closed at Rs. 238.20, up by 3.18 percent.
In the last one year, the company has delivered positive returns of nearly 26.33 percent and more than 21.3 percent of returns in the last six months. So far in 2024, it has given negative returns of around 16.84 percent.
According to the filings on the stock exchanges, Veranda Learning Solutions has formed a strategic alliance with Cambridge University Press & Assessment India Pvt. Ltd.
The company has been appointed as an Associate Partner for Cambridge in India, and will play an important role in hiring, onboarding and supporting schools in the Cambridge community, with a specific focus on Tier II and Tier III cities.
This strategic partnership will empower schools with the necessary expertise to execute the Cambridge Pathway.
Earlier, Cambridge announced its intention to grow to 1,000 schools in the country, and this strategic partnership with Veranda supports that expansion.
In terms of financials, the revenue from operations of the company decreased by 6.12 percent QoQ from Rs. 98 crore in Q2 FY23-24 to Rs. 92 crore in Q3 FY23-24.
The net profit of the company is Rs. -17 crore in Q3 FY23-24, down by 750 percent on a quarter-on-quarter basis from Rs. -2 crore in Q2 FY23-24.
Founded in 2018, Veranda Learning Solutions is an education company that offers a bouquet of training programs for competitive exam preparation, including State Public Service Commission, banking, insurance, railways, IAS, and CA, as well as a slew of professional skilling and upskilling programs.
Written by Shivani Singh
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