CORE Q1 net up 18.6%

EBITDA grows 53% to Rs 190 cr

Education services provider CORE Education and Technologies (CORE) today posted a net profit of Rs 78. 5 crore for the first quarter, up 18.6% from net profit of Rs 66.1 crore in the same period last year.

The revenue for the first quarter stood at Rs. 482.6 crore as against Rs. 325.5 crore in the same period last year, an increase of 48.3 per cent. Earnings before interest, tax, depreciation and amortisation (EBITDA) was at Rs 190 crore for this quarter as against Rs 124 crore in the same period last year, with a growth of 53%.

Sanjeev Mansotra, chairman and global CEO of CORE said, "The robust set of numbers in a challenging global economic scenario is testimony to our sustained market leadership in our traditionally strong segments within the education sector in USA and UK. Also adding fillip to this growth is the increased market penetration in India where we have an order book of Rs 650 crore."

Mansotra added that a strong pipeline in the government sector coupled with new product launches across categories for both private and public school markets in India will ensure that they sustain and better this growth momentum in the coming quarters.