Tree House Education has reported a more than double increase (113%) in net profit at Rs 17.12 crore for the quarter ended January-March 2015. Net profit for January-March quarter of 2014 was at Rs 8.04 crore. Revenue from operations for the fourth quarter was up 41.77% to Rs 50.68 crore.
Rajesh Bhatia, Managing Director of Tree House, said, "Such growth is attributable to our deep understanding of the education space, the robustness of our business model along with our innovative methods that make learning a dynamic activity for our young children. We have also witnessed further traction in our day care business."
Tree House posted total income of Rs 207.45 crore compared to Rs 157.64 crore in the FY 2014. The Net Profit for FY 2015 rose to Rs 60.88 crore compared to Rs 43.92 crore in FY 2014, representing 38.65% year-on-year growth.
"We also took major steps towards strengthening our balance sheet with the monetization of K-12 properties owned by Tree House. In FY15, we have received Rs 17.1 crore from divestments of K-12 land and in fourth quarter we signed an MoU for consideration of Rs 52.5 crore. We will deploy these funds towards debt reduction and expansion of business operations. This will be further aided by money raised through the recent QIP and continuing operating cash flows," the company said.
Tree House opened 50 preschools centers in the last quarter of FY2015 and the company has 612 preschools centers spread across 88 cities in India.
