CORE Projects & Technologies Q2 net profit at Rs 36.96 crore, up by 24.67%

Financial Highlights

• Income at Rs. 200.72 crore. Year on Year growth 24.25%
• PAT at Rs. 36.96 crore. Year on Year growth 24.67 %
• EPS at Rs. 3.97 against Rs. 3.44 during previous period
• EBITDA at Rs. 58.66 crore. Year on Year growth 49.04%

CORE Projects & Technologies (BSE Code: 512199, NSE Code: COREPROTEC) a leading provider of best of breed end-to-end solutions in the Education Domain worldwide has announced an excellent performance for Q2 ended 30th September 2009. The company reported PAT of Rs. 36.96 crore for the quarter ended 30th September 2009 as against Rs. 29.65 crore in the previous year corresponding quarter, a rise of 24.67%.

Earnings per share for the quarter stands at Rs. 3.97 compared to Rs. 3.44 during the corresponding previous quarter.

The total revenue of the company during the July-September period is Rs. 200.72 crore against Rs. 161.54 crore for the corresponding previous quarter.

Sanjeev Mansotra, Chairman and Managing Director of the Company, commenting on the performance said “the Government spending globally is on the increase. The Government of India has laid out very ambitious plans for Elementary, Secondary and Higher Education. Our Company’s core competencies make us well placed to secure substantial business on a Pan-India basis in the near future.”

Half yearly performance

Net revenue stood at Rs. 388 crore for the first six months ended September 2009 as compared to the corresponding six months ended September 2008 at Rs. 320.91 crore. Net Profit stood at Rs. 77.32 crore for first six months ended September 2009 as compared to the corresponding six months ended September 2008 at Rs. 57.01 crore