Thursday, 10 November 2011

Tree House Education Q2 net profit at Rs52.66 mn

Tree House Education and Accessories Limited (‘Tree House”), one of the leading providers of educational services in India and operating the largest number of self-operated pre-schools in the country (CRISIL Research Industry Report”), has posted a Total Income of Rs. 349.92 mn in the first half of FY 2012 (H1 FY 2012) as compared to Rs.411.52 mn for the entire financial year FY 2011. 

The Net Profit for H1FY 2012 was Rs. 104.93 mn as compared to Rs. 91.95 mn for the entire FY 2011.
Tree House announced a Total Income of Rs. 181.43 mn for the quarter ended September 30, 2011. Its Net Profit stood at Rs. 52.66 mn for Q2 FY 2012. 
The Company EBITDA for Q2 FY 2012 stood at Rs. 112.98 mn while that for H1 FY 2012 was Rs. 213.28 million as compared Rs. 188.23 mn for the entire FY 2011.  The EBITDA margin for Q2 FY 2012 is 62% and the Net Profit margin for Q2 FY 2012 is 29%. 
According Rajesh Bhatia, Managing Director, Tree House Education and Accessories Limited, “The financial results for the second quarter reflect the growing acceptance of Tree House as a preferred pre-school destination for toddlers across the country. Tree House has a differentiated and high quality content programme all across its centres with great emphasis on delivery of the same. As more parents experience our innovations, word of mouth communication leads to greater admissions. Admissions for the next academic year have begun and we have seen good traction at our centres.”
“We are in the process of creating additional capacity in the existing locations as well as new cities so that more children can benefit from our pedagogy. We are in the process of doing fit-outs in 16 new centres, which be opened by December 2011. We remain upbeat about our performance in the remaining two quarters of the fiscal year. The Tree House team is confident of delivering continued growth and superior shareholder returns in the years to come,”. Bhatia added.  
Tree House opened 11 new pre-schools in the quarter ended September 2011. The total number of centres now stands at 234 and the number of self-operated pre-schools is 158. It is currently present in 35 cities. The new city covered in the quarter was Kolhapur. Tree House conducted fancy dress shows throughout the country with all students participating whole-heartedly. Socio-dramatic plays were conducted within the centres for rain-cycle and germination. Farm animal day conducted for most centres! The total staff strength as on 30 September 2011 was 920. The total teacher strength increased by 194 to 849 during the quarter ended September 2011. 
Tree House has informed BSE that the Board of Directors of the Company at its meeting held on November 10, 2011, inter alia, has approved and taken on record the following:
1. Appointed  Jayant Sinha as Additional Director on Board, whose appointment will be confirmed in next General Meeting by members of the Company.
2. Appointment of Utsav Shrivastava as Director - Human Resource & Operations and he will be instrumental in preparing the HR talent pool to the next level  
3. Hiren Shah as Chief Financial Officer of the Company. Shah holds a masters in commerce from University of Mumbai and is a chartered accountant. He has approximately 10 years of experience in the manufacturing, entertainment and hospitality

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