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CORE Education revenue up by 48%, EBTIDA up by 53%

·         Has a global order book of over Rs.1200 crores

·         Reaches the mark of 10,000  schools in India

Financial highlights – Q1FY13 (April – June 2012)

·         CORE Education & Technologies Ltd. (CORE) achieved revenue of Rs. 482.65 crore for Q1 FY2013 compared to Rs. 325.53  crore in Q1FY2012

·         EBITDA for the quarter was Rs. 190.10 crore, an increase of 53.24% as compared to the corresponding quarter of last fiscal year

·         Profit After Tax (PAT) for the quarter was registered at Rs. 78.54 crore, up 18.68% over corresponding quarter in previous fiscal year

·         EPS for Q1FY2013 was at Rs. 6.95

MUMBAI, August 14, 2012: CORE Education & Technologies Ltd (CORE) (BSE: 512199), India’s largest global education player, today announced its financial results for the first quarter ended June 30, 2012.

Coming out of an impressive performance in FY ’12, the company has recorded an impressive growth both in revenue and EBITDA in Q1 FY ’13 on a YoY basis. Revenue for the quarter under review was higher at Rs. 483 crore as against Rs. 326 crore in Q1 FY ‘12, an increase of 48.3%. EBITDA has increased to Rs. 190 crore in Q1FY’13 as against Rs.124 crore in the corresponding quarter of FY ‘12, registering a growth of 53%. PAT has increased to Rs. 79 crore, a growth of 19% over Rs. 66 crores the quarter ended 30th June, 2011.EPS (basic) for Q1FY13 increased to Rs. 6.95 from Rs. 5.99 in Q1FY12, an increase of 16%.

Mr. Sanjeev Mansotra – Chairman & Global CEO stated, “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 crores.

Sanjeev Mansotra also added “The last quarter was also momentous as it saw us cross the tally of 10,000 schools in India taking our presence to over 88,000 schools globally. Apart from the Advanced Technologies segment, we continue to make significant progress in skill development, which will clearly be one of our growth engines going forward. A strong pipeline in the Government sector coupled with new product launches across Teaching, Learning & Assessment segments for both private and public school markets in India will ensure we sustain and better this growth momentum in the coming quarters.”

Highlights for the year

·         CORE has bagged orders worth Rs. 34.1 crores to implement computer-aided learning solutions in 935 schools across West Bengal, Orissa and Punjab.

·         CORE bagged orders from Governments of Andhra Pradesh and Tamil Nadu to impart placement oriented employability skills to around 5000 youth.

·         Texas Instruments and CORE join forces to deliver STEM solution for Indian schools.

·         CORE has been certified as a CMMi Level 5 company.

About CORE Education & Technologies Limited

CORE Education & Technologies Limited (www.core-edutech.com) is a global leader in education, with global headquarters in Atlanta, US and corporate headquarters in Mumbai, India. CORE has formed long-term associations with the Governments in the US, the UK and India, amongst many others. Its operations cover 46 states in USA, 40 educational departments in the UK, 15 Indian states, 2 Caribbean countries and 9 countries in Middle East and Africa region. CORE’s world-class offerings are spread across the entire continuum of education – K-12, Employability Education (Skill Development), Higher Education – thereby impacting the entire life-cycle of education.

CORE today works with more than 35 million students worldwide, has trained & placed 105,000 teachers and partnered 88,000 schools across the world. Breakthrough innovations and research-driven technology solutions have helped CORE improve education systems across the world. The company has partnered with some of the world’s most prestigious organizations such as the University of Oxford (UK), the Centre of Higher Learning, NASA; Texas Instruments,  among others. Listed on the Bombay Stock Exchange & National Stock Exchange, CORE’s FY ’12 revenue stood at Rs.1637 million ($342 million). CORE is a CMMi level 5 and ISO 9001:2008 certified company achieving a CAGR of 61% between FY ’06 – ‘12.

For more information on CORE Education & Technologies Ltd and its activities, please visit www.core-edutech.com

For further information, kindly contact:

Ramkumar S. Uppara | Sr. Manager – Corporate Communication

Core Education & Technologies Ltd.

Mobile: +91 98201 77907, BBM Pin: 27B01D05

Email ID: ram.uppara@core-edutech.com 

Anil Mathews | Associate Director

Perfect Relations

Mobile: 9820480317

Email ID: amathew@perfectrelations.com