Tree House Education & Accessories’ Q2FY17 standalone net-revenue for the quarter fell 68.6% yoy to Rs 18 cr.
EBITDA loss for the period came to Rs 11.1 cr versus an EBITDA of Rs 30.2 cr during the corresponding period last fiscal.
Also, the company reported a net loss for the quarter of Rs 47.6 cr as against a net profit of Rs 12.7 cr during the same period last year.
The management said that the restructuring of the organization has started yielding good results with EBITDA loss reducing qoq. The company reduced debt by Rs 4 cr through internal accruals in this quarter. The company plans to focus on new centers in high potential areas and on exploring franchise opportunities in pre-school space.
Tree House Education & Accessories Ltd is currently trading at Rs. 28.55, down by 1.25 points or 4.19% from its previous closing of Rs. 29.8 on the BSE.
The scrip opened at Rs. 35 and has touched a high and low of Rs. 35 and Rs. 27.9 respectively. So far 108404(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
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