CORE Education Q2 net profit rises 40%

25 Oct

CORE Education and Technologies  Limited has posted revenue of Rs. 3.53bn for the second quarter of FY12 against Rs. 2.79bn marking a 27% jump as compared to the corresponding quarter in the previous year on a consolidated basis.

The Company’s consolidated net profit shot up to Rs. 750mn, a 40% jump as compared to the previous year’s Q2 performance of Rs. 540mn. The profit margins improved to 21% for the current quarter as compared to 19% for the quarter ended 30th September 2010.

The consolidated EBITDA rose by 40% to Rs. 1.41bn for the quarter ended 30th September 2011 compared to the same period last year. EBITDA margins improved to 40% from 36% for the same period.

The consolidated EPS (Earnings per Share) for this quarter stood at Rs. 6.77 as compared to Rs. 5.23 for the corresponding quarter in fiscal year 2010-11.

Sanjeev Mansotra, Chairman and Global CEO, CORE Education & Technologies Limited said, “Globally, US and UK have achieved our growth targets as we look to expand our foot print in new geographies like Middle East and Asia Pacific. In UK, ITN Mark acquisition has enabled cross selling of our existing products into their 1600 plus schools. This synergy will positively impact the overall profitability of the combined UK business going forward.” Mr. Mansotra added further “Our significant successes in ICT and Vocational education space in India have contributed towards this quarter’s strong numbers. With a strong pipeline, going forward we expect an increased impetus in the following quarters coming from these sectors in India”

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