CORE Education announces Financial Results

Top Quote FY'12 revenue up by 50%, EBTIDA up by 60%. End Quote
  • (1888PressRelease) May 04, 2012 - CORE Education & Technologies Ltd, India's largest global education player, announced its annual audited results for FY'12. The company has recorded an impressive growth both in revenue and PAT on a YoY basis. The Company reported higher revenue at Rs. 1638 crore for the year ended 31st March 2012 compared to Rs. 1091 crore for the year ended 31st March 2011 (an increase of 50.1%). The earnings before interest, tax, depreciation and amortization (EBITDA) for FY'12 has increased to Rs. 654 crore as against Rs. 409 crore, over the previous year (a growth of 60%). The Profit After Tax (PAT) for FY'12 has increased to Rs. 323 crore as against Rs. 225 crore, over the previous year ended 31st March 2011 (a growth of 44%). Earnings per share (basic) for FY'12 increased to Rs. 29.05 from Rs. 21.79 in FY'11, an increase of 33%

    Mr. Sanjeev Mansotra - Chairman and Global CEO, said "We have been performing consistently and our different verticals have showed healthy performance on both absolute as well as margin parameters. The strong growth shown by business units across the board - in US, UK and India- reflects company's remarkable resilience and illustrates the benefits of concentrated organizational efforts over the past few years aimed at increasing stakeholder value".
    He further added "As we embark on our next phase of consolidation in existing business lines and growth in new geographies we are confident of meeting our growth objectives. We have made some significant progress in India with total order book of Rs. 568 crore which would be the key growth driver along with our pan-India roll-out of skill schools. "

    Highlights for the year:
    CORE forayed into Middle East by establishing Academic Learning Centre at Ras Al Khaimah in partnership with Birla Institute of Technology (BIT), Ranchi to offer programs in Engineering, Architecture & Business Administration
    Company bagged orders worth Rs. 248 crore representing five Indian states in FY'12 and implemented projects worth Rs. 568 crore in five states.
    CORE bagged an order from Karnataka State Electronic Development Corporation to impart employability skills to 12,478 urban BPL youth
     Established operations in Dubai & Singapore to address business opportunities in Middle East, Africa & Far East geographies respectively
     CORE featured in India's top-ranked company for research and development (R&D), as per a list compiled by the European Commission
     CORE Education & Technologies Ltd has been rated at Level 5 of CMMI process improvement model by KPMG.

    About Core Education & Technologies Ltd
    CORE Education & Technologies Limited (CORE) is a global leader in education, with global headquarters in Atlanta, US and corporate headquarters in Mumbai, India. Our expertise has seen CORE forming long-term associations with the governments in the US, the UK and India, amongst many others. Our operations cover 46 states in USA, 40 educational departments in the UK, 2 Caribbean countries, 7 African Nations, Asia Pacific, Middle East and presence across India. Our world-class offerings are spread across the entire continuum of education - K-12, Skill Development, Higher Education - thereby impacting the entire life-cycle of education.

    CORE today works with more than 31 million students worldwide, has trained 105,000 teachers and partnered 85,000 schools across the world. Our breakthrough innovations and research-driven technology solutions have helped improve education systems across the world. We have 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 is a CMMi level 5 and ISO 9001:2008 certified company achieving a CAGR of 53% over the last 6 years (FY '07-'12).

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

    For further information, kindly contact:
    Yuvraj Pawar
    Sr. Executive Perfect PR
    Mobile: +91 9167110504
    Email ID: ypawar ( @ ) perfectrelations dot com

    Ramkumar S. Uppara | Sr. Manager - Corporate Communication
    Core Education & Technologies Ltd.
    Mobile: +91 98201 77907, BBM Pin: 27B01D05
    Email ID: ram.uppara ( @ ) core-edutech dot com

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