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MT Educare fiscal Q1 profit climbs YOY

MT Educare Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 1.76 Indian rupees per share, a gain from 70 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 69.9 million rupees, a gain from 27.7 million rupees in the prior-year period.

The normalized profit margin increased to 13.8% from 6.0% in the year-earlier period.

Total revenue rose 10.2% year over year to 505.5 million rupees from 458.8 million rupees, and total operating expenses declined 9.8% on an annual basis to 391.4 million rupees from 434.1 million rupees.

Reported net income rose year over year to 76.4 million rupees, or 1.92 rupees per share, from 30.2 million rupees, or 76 paise per share.

As of Aug. 6, US$1 was equivalent to 61.34 Indian rupees.