MT Educare, a leading education support and coaching services provider, in order to strengthen its service offerings is actively looking for acquisitions for which it has short-listed a company in existing IIT entrance space.
During the first six months of the financial year it added 8 coaching centres, taking the total number of centres to 199. The company now plans to strengthen its presence in Maharashtra, Tamil Nadu, Karnataka and Gujarat. The company has got around Rs 65 crore of cash available.
MT Educare provides educational coaching services for classes 9 and 10 (state boards, CBSE and ICSE), classes 11 and 12, graduation (commerce), preparatory/entrance tests (engineering, medical and MBA) and professional courses such as chartered accountancy under the brand name “Mahesh Tutorials”.
The company has reported a consolidated net profit of Rs 11.51 crore for the six months ended September 30, 2012, as compared to Rs 9.62 crore in the corresponding period last year. Total consolidated income for the first six months of FY2012-13 stood at Rs 82.84 crore, a rise of 15% y-o-y.
