CORE Education Q2 net down 2.7% at Rs 73 cr

Total revenue increased 40% to Rs 495 cr

CORE Education & Technologies posted a 2.7% drop in the net profit for the second quarter ended September 2012. The net profit stood at Rs 72.9 crore compared to Rs 74.9 crore posted in September 2011.

The total revenue of the education player stood at Rs 494.9 crore for the quarter compared to Rs. 353.2 crore for the same quarter last year, an increase of 40% year-on-year.

Sanjeev Mansotra, Chairman & Global CEO, said: "The Company continues to deliver strong set of numbers in a highly competitive and challenging global economic scenario. We continue to strengthen our leadership positions in the USA and UK markets while further penetrating the Indian and Middle-East market."

He added that the company recently won orders from Himachal Pradesh, West Bengal, Bihar, Karnataka and Assam governments for various projects. "Going forward we will see government opening up various segments within the education sector for public-private partnership (PPP) model and further augmenting the healthy growth seen in the company. The current order book for India stands at Rs 900 crore," he said.

In the last quarter, the company crossed the tally of 11,000 schools in the ICT space in India. Apart from the Advanced Technologies segment, Mansotra added that they continued to make significant inroads in skill development, with an order book of Rs. 63 crore to train over 120,000 students.