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Stock Report
MT Educare Limited announces financial results for the period ended June 30, 2020
Posted On : 2020-11-26 21:24:36( TIMEZONE : IST )
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, 2020.
MTEL (at Consolidated Level)
The company in Q1 FY21 posted Total Revenues at Rs.29.20 Crs (Including Other Income) as compared to Rs. 70.78 Crs (Including Other Income) in Q1 FY20.
The company in Q1 FY21 posted EBITDA of 9.11 Cr as compared to Rs. 20.98 Cr in Q1 FY20.
The company in Q1 FY21 posted PAT of (Rs. 1.89 Cr) as compared to Rs. 4.00 Cr in Q1 FY20.
MTEL (at Standalone Level)
The company in Q1 FY21 posted Total Revenues at Rs.18.19 Crs (Including Other Income) as compared to Rs. 50.03 Crs (Including Other Income) in Q1 FY20.
The company in Q1 FY21 posted EBITDA of 3.85 as compared to Rs. 13.56 Cr in Q1 FY20.
The company in Q1 FY21 posted PAT of (Rs. 4.41 Cr) as compared to (Rs. 0.25) Cr in Q1 FY20.
Mr. Arun K. Khetan, CEO, said, the sudden lockdown due to the Pandemic COVID -19 in March 2020 & the overall impact it caused into the yearly education cycle of our target group of customers including the economic impact on their earning has majorly disrupted our conventional coaching operations & accordingly affected our business as well during this period, which almost got standstill during this lockdown with no clear visibility ahead .This has created new set of challenges for us, as exams/declaration of results etc. etc. all got delayed Impacting the operation cycle significantly. Further it also effected the batches of 'Lakshya Prep High School & Junior Colleges' across Mumbai & MMR, which are academically supported by us and due to delay in the online admission(s) because of sudden lockdown ,a sizeable chunk of our Science enrolments got postponed beyond 30th June, 2020. Apart from the above, the revenue which was expected from the Government Project during this period has also got impacted and hence could not been materialized.
Shares of MT EDUCARE LTD. was last trading in BSE at Rs.9.43 as compared to the previous close of Rs. 9.23. The total number of shares traded during the day was 5102 in over 16 trades.
The stock hit an intraday high of Rs. 9.44 and intraday low of 9.21. The net turnover during the day was Rs. 47617.
