BEIJING (dpa-AFX) - TAL Education Group (TAL), a Chinese education solutions provider, on Thursday posted a net profit for the first-quarter, helped by an increase in revenue.
For the three-month period to May 31, the firm posted a net income of $11.402 million or $0.06 per share, compared with a loss of $45.037 million or $0.21 per share, recorded for the same period of previous year.
Adjusted income was $29.608 million, compared with a loss of $19.524 million in 2023.
Earnings per ADS were at $0.02 as against last year's loss of $0.07 per ADS.
Excluding items, income per ADS $0.05, compared with a loss of $0.03 per ADS a year ago.
Income before income tax expense and loss from equity method investments stood at $14.576 million, versus a loss of $41.637 million a year ago.
Loss from operations narrowed to $17.330 million from $57.773 million in 2023.
Revenue was $414.187 million, up from previous year's $275.440 million.
TAL was trading up by 5.49 percent at $10.57 in the pre-market trade on the New York Stock Exchange.
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