MT Educare Limited (MTEL), a leading education support and coaching services provider in India, announced its financial results for the quarter ended June 30, 2012. This is the first time that MTEL is announcing quarterly performance after its listing, subsequent to its initial public issue of equity shares in April 2012.

The Consolidated Profit after Tax (PAT) for Q1 FY13 stood at Rs. 247.67 lacs. Total Consolidated Income for Q1 FY13 stood at Rs. 3,690.73 lacs.

Quality Course Content and Module wise technology enabled classroom delivery has contributed to MTEL’s robust business model. 1,556 students who had enrolled with the Company for Std X coaching in Maharashtra State Board secured more than 90% scores in the March 2012 examinations. Similarly 7 of the top 35 students in the recently concluded CA Final (May 2012) examinations have been coached at our centers.

While commenting on the results, Mr. Mahesh Shetty, Chairman and Managing Director said, “Historically, majority of new courses in a fiscal commences from June and hence the revenues for Q1 are lower than the annual average. As majority of our expenses are fixed in nature, cost is more or less evenly spread through out the year resulting in Q1 revenue and margins being significantly lower than the annual average.

Overall, we have done very well in Q1 and have created additional capacity in Q1 by opening 7 new locations which would add to our revenues in the coming years, We remain upbeat about our performance for the remaining 3 quarters of the fiscal and the team at MTEL is confident of delivering continued growth and shareholder returns in the years to come.

Further, a dividend policy has been adopted wherein fifty per cent (50%) of the net profits in a financial year will be allocated towards distribution of dividend to shareholders and the balance will be retained for business operations and that the dividend will be paid on a half yearly basis.”