MPS reports 23% EBITDA growth despite muted revenue rise

MPS Limited reported Q1 FY'26 revenue growth of 3.9% year-over-year, while EBITDA surged 22.51%.

The Education Solutions segment drove performance with revenue soaring 56.64% and EBITDA more than doubling to reach a 36% margin. Growth was entirely organic with no acquisitions since 2018.

Research Solutions revenue declined due to intentional rightsizing of AJE, now operating at $12 million annual run rate with 23% EBITDA margin. Excluding AJE, Research Solutions grew organically 10-11% with 40% EBITDA margin.