MT Educare plunges 5% post weak Q2 results

Shares of MT Educare hit lower circuit on Tuesday after the company on Monday reported 95.81 per cent year-on-year fall in consolidated net profit at Rs 0.58 crore for the quarter ended September 30, 2017. It had posted net profit of Rs 13.87 crore in the corresponding quarter last year.

Consolidated total income of the company declined 28.90 per cent year-on-year to Rs 65.77 crore in Q2FY18 over Rs 95.50 crore in Q2FY17.

The scrip closed 4.96 per cent down at Rs 67.05 on Tuesday.

MT Educare had hit 52-week high of Rs 139.40 on January 25, 2017 and 52-week low of Rs 53 on November 17, 2017.

Consolidated EBITDA stood at Rs 9.30 crore for the quarter under review as compared to Rs 26.80 crore in the same quarter last year.

Profit after tax for Q2 plunged due to reduction in revenues/ EBITDA from government projects as well as higher interest outgo this year as compared to Q2 last year.