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Tree House plans to open 100 self-operated centres in FY14

MUMBAI: Tree House Education & Accessories Ltd announced today that the company plans to open 100 self- operated centres in the current financial year, out of which it has already opened 22. "We plans to open 100 self-operated centres in the current financial year FY 2014, of which it has already opened 22. Net addition of 16 pre schools in the second quarter of FY2014. Total number of centres as on September 30, 2013 is 426. "Out of this, the number of self operated pre-schools is 322," Tree House Managing Director Rajesh Bhatiasaid in a statement issued here today. The ratio of self operated pre-schools to total pre-schools is 75.59 per cent. Currently present in 55 cities in India, the new cities where centres were launched in the quarter are: Jabalpur, Indore, Khopoli, Ichalkaranji and Ghaziabad. "Treehouse is spreading its roots across the country. We are now present in 18 of the top 20 cities in India, with market leadership in 9 of these in terms of centre penetration. "We have identified cities where we plan to grow in the next six months. We plan to open 100 self-operated centres in the current financial year, of which we have already opened 22," Bhatia said. The company would announce asset sales within the next six months to increase the efficiency of capital employed and free capital resources for future growth. The company would continue to strengthen its curriculum and content delivery to maintain growth over the coming year, he said. Meanwhile, the company reported net profit of Rs 11.47 crore in the second quarter of FY2014 as compared to Rs 9.93 crore for the second quarter of FY2013, representing 15.50 per cent year on year growth. However, Q2FY13 PAT was buoyed by one-time other income of Rs 2.40 crore. Excluding this, PAT has grown by 39.36 per cent. Revenues from operations for the second quarter of FY2014 stood at Rs 41.29 crore as compared to Rs 28.28 crore for the second quarter of FY2013, representing 46 per cent year on year growth. Operational EBITDA for the Q2 of FY2014 is Rs 22.93 crore as against Rs 15.52 crore for the second quarter of FY2013, representing 47.74 per cent year on year growth. (This story was published in Economictimes : Dated 12-11-2013)

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