Q3FY17: MT Educare Ltd. show poor results, stock tanked 15%

On Tuesday, MT Educare Ltd. reported its results for the quarter ended on December 31, 2016.

The total sales for this quarter, Q3FY17, came in at Rs 63.55 crore. This represents a 27.08 per cent sequential decline and 10.07 per cent YoY decline. Its operating loss (EBIT) for the recently concluded quarter amounted to Rs 3.7 crore. In terms of the bottom-line, the company reported a net loss of Rs 4.43 crore versus a net profit of Rs 12.43 crore in the last quarter. 

The company's stock opened with a gap down on Wednesday at Rs 115 and has fallen 15 per cent. The stock is currently trading at Rs 107.

 MT Educare Ltd. is an education support and coaching services provider for students in the secondary and higher secondary school and also for students pursuing graduation degree in commerce, or for those preparing for various competitive examinations or undertaking chartered accountancy examinations. The company has operations across 12 states and 1 Union Territory through 293 coaching centres in 178 locations of the country.