Everonn posts Rs 63 cr net loss for Q4

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A school girl shields herself from monsoon rain on a street in New Delhi. Reuters photo A school girl shields herself from monsoon rain on a street in New Delhi. Reuters photo
SummaryEducation services provider Everonn reported consolidated net loss of Rs 63.03 cr.

Education services provider Everonn today reported consolidated net loss of Rs 63.03 crore for the quarter ended March 2012.

It had posted net profit of Rs 26.20 crore in the same period of 2010-11 fiscal.

The total income from operations for the quarter stood at Rs 89.77 crore, down almost 33 per cent from Rs 133.87 crore in the corresponding quarter last fiscal, Everonn Education said in a filing to the BSE.

For the 2011-12 fiscal, the consolidated net loss of the company stood at Rs 67.61 crore. This is against a net profit of Rs 67.63 crore in the previous fiscal.

The total income from operations for the last year stood at Rs 359.61 crore, down from Rs Rs 424.69 crore in the year-ago period.

The company said its Board of Directors at its meeting held on May 14, 2012, has approved creation of business restructuring reserve to the extend of Rs 150 crore from securities premium account.

Besides the Board has also considered and approved alteration of Articles of Association of the company.

The shares of the company were trading at Rs 189.35 at 1500hrs, up 0.45 per cent from its previous close on the BSE.

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