Tuesday, November 15, 2011

Everonn Q2 FY12 Results: Revenues slump 26%, PAT in negative territory

Everonn announced its results for the the 2nd quarter (July-Sept 2011)  for FY12.  The effect of the recent turmoil was visible in the results. Revenues dipped 26% YoY to Rs 79.5 Cr from Rs 108 Cr last year. Decline in revenue and  massive increase in depreciation and interest costs pushed Everonn  into a loss with a PAT of negative 3.7 Cr versus 15.5 Cr of profit in the corresponding quarter of FY11.

After Educomp, Everonn is the second education company to disappoint the market this week with poor results. Everonn's share price fell over 5% in today's trade. Educomp's stock has already fallen 25% over the last 3 days. 

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