By Mark Vincent A. Durano

Far Eastern University’s (FEU) attributable net income for the third quarter of its fiscal year from December to February fell to 10.2 percent, amounting to P647.39 million from P721.27 million last year, despite a 4.9-percent growth in revenue.

The University’s revenue reached P1.60 billion from P1.52 billion year-on-year, according to a regulatory filing reported by BusinessWorld.

Meanwhile, the tuition fee revenue also rose by 9.8 percent to P1.52 billion, while the operating expenses fell by 4.9 percent to P863 million.

FEU opened the fiscal year in May 2024 with a net loss of P99.76 million from the P73.09 million of the same period from May to August 2023. However, revenue capped at P616.1 million with a P753.54 million-worth of operating expenses. 

This was followed by a six-percent decline in net income for the second quarter, from September to November 2024, due to higher operating expenses. The revenue closed at P1.59 billion, while the operating expenses hiked to P880.73 million. 

In the first three quarters of the fiscal year, the University’s attributable net income declined by 2.7 percent at P1.28 billion compared to the P1.31 billion from the first nine months of the previous fiscal year.

The same nine-month period also saw a seven percent-increase in revenue at P3.92 billion due to a 7.9-percent growth in tuition fee revenue at P3.74 billion.

Moreover, the University’s operating expenses also rose by eight percent, totalling to P2.64 billion. 

FEU shares closed at 1.05 percent or P8 at P770 per share traded last April 8.

FEU Advocate has reached out the University Chief Finance Officer but has yet to receive a response.

(Photo by Zedrich Xylak Madrid/FEU Advocate)