Education provider Taaleem Holdings’ net income rose 7.6% y-o-y to AED 86.4 mn in 3Q 2023/24, according to its financial statements (pdf). Revenues rose 15.1% to AED 245 mn.

On a 9M basis, its net income rose 38.9% y-o-y to AED 277.6 mn, on the back of “growing operational profitability” and “interest gains on cash reserves,” the company said in an earnings release (pdf). Taaleem booked AED 830.7 mn in revenues in 9M 2023/24, up 15% y-o-y due to record student enrollment.

Breakdown: With the addition of six new government partnership schools, enrollment increased 32.9% y-o-y during the nine-month period, reaching 37.9k students. Total capacity stood at

42.9k students during the period, up 27.1% y-o-y. The company’s portfolio currently comprises 32 schools.

Looking ahead: “Looking ahead to the upcoming academic year, we are poised to add approximately 2.4 thousand seats to our premium segment, with the construction [of] Dubai British School Jumeira now complete, and the expansion of Greenfield International School nearing completion,” Chairman Khalid Al Tayer said.

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