MT Educare Limited (MTEL), a leading education support and coaching services provider in India, announced its unaudited consolidated financial results for the quarter ended 30th June, 2013.
MTEL reported a consolidated net profit of Rs. 3.02 crores for the quarter ended 30th June, 2013 as compared to Rs. 2.48cr in the corresponding quarter last year, a rise of 22% y-o-y. Total Consolidated Income for Q1FY 13-14 stood at Rs. 47.87 crores as compared to Rs. 36.91cr in Q1 FY12-13, a growth of 30% y-o-y.
While commenting on the results, Mahesh Shetty, Chairman and Managing Director said, â€śWe have had a satisfactory admission season for our school section this year and are looking forward to FY 13-14 on a buoyant note. We are seeing increased admissions in our Commerce and Karnataka segment coupled with a few key technology initiatives giving us the required impetus. Our unique product â€śRobomateâ€ť with entire content in digital form and developed in-house by our faculties from the school section was launched this year and has received a good response from our students. This has encouraged us to now make Robomate available even for students who have not enrolled with MTELâ€ť.
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