There is an element of seasonality in the education business. Odd and even semesters start in June and December respectively, hence these quarters tend to be better.
A snippet from the KMCH website:
The odd semesters shall be conducted from the month of June/July to November/December and the even semesters shall be conducted from December/January to May/June in every calendar year.
You should compare the numbers on a Y-o-Y basis instead, that will paint a better picture!
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