MT Educare FY’13 PAT up 36%

India Infoline News Service | Mumbai |

MTEL reported a consolidated net profit of Rs 18.05 crores for the year ended 31st March, 2013 as compared to Rs 13.23 crores last year, a rise of 36% y-o-y.

MT Educare Limited, a leading education support and coaching services provider in India, announced its audited financial results for the quarter and year ended 31st March, 2013.

MTEL reported a consolidated net profit of Rs 18.05 crores for the year ended 31st March, 2013 as compared to Rs 13.23 crores last year, a rise of 36% y-o-y. Total Consolidated Income for FY 2012-13 stood at Rs. 157.28 crores as compared to Rs 130.57 crores last year, a growth of 20% y-o-y. The Consolidated EPS (diluted) for the year stood at Rs 4.55 per share.

MTEL Board today declared a second interim dividend of Re 1/- per share (10%). This added with Re 1/- per share distributed earlier in Nov 2012, alongwith dividend tax amounts to 50% payout of the profits, which is in line with the company’s dividend policy announced last year.

While commenting on the results, Mr. Mahesh Shetty, Chairman and Managing Director said, “We are pleased to announce encouraging results for FY 2012-13 on completion of our first year of listing, coinciding with 25th year of our company. We are quite excited with the new JEE Advanced offering in Mumbai helped by our Lakshya team from the North, which strengthens our Science Division, which is a market leader in JEE Mains. We have recently launched a new service offering for Std V to VIII students called Interactive Networked Knowledge or “INK” which introduces a new age two way interactive tuition to students where they can learn from expert faculties from the comfort of their homes. Various IT initiatives have been started by the company to ensure greater efficiencies and meet the future needs of the students who are increasingly becoming tech savvy.”

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