Business News | Tree House Education & Accessories Limited Announces Q2 Financial Results for 2023

SRV Media

New Delhi [India], November 10: Tree House Education & Accessories Limited (Tree House) reported its audited financial results for the 2nd quarter ended 30th September, 2023.

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Key Highlights:

* Revamp of curriculum for educational trusts in line with New Education Policy, 2020(NEP 2020)

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* EBDITA positive

Financial Highlights of the year:

(INR in lakhs)

Revenue from operations:

* Q2 FY2024: 209

* Q2 FY2023: 136

Earnings before Depreciation, Interest, Tax and Amortisations (EBIDTA)

* Q2 FY2024: 35.36

* Q2 FY2023: -47.27

Profit (Loss) after tax

* Q2 FY2024: 83.15

* Q2 FY2023: 3884.42

Commenting on the Q2 FY24 results, Rajesh Bhatia, Managing Director & Chief Executive Officer of Tree House, said: "Our company is evaluating various lines of business in the education sector where we will enter ourselves or through joint venture companies. We have great brands like Tree House, Brainworks & Global Champs in our portfolio. We will aggressively market each one to great heights again in the years to come.

The environment is one of intense competition and lower interest among new participants on opening of preschool centres looking at the changing scenario of education in India. The new education policy is yet to be fully implemented by various state governments and only a few states have released guidelines regarding the same. One of the other deterrents is the scars of the COVID-19 pandemic where large number of preschool centres shut down.

We have revamped our curriculum offered to K-12 schools in line with the New Education Policy for the academic year 2024-25.

The company is EBDITA positive in this quarter and the PAT is negative due to income tax (normal and deferred) provisions."

Tree House Education & Accessories Limited:

Tree House Education & Accessories Limited (NSE code: TREEHOUSE; BSE code: 533540, MCX-SX: TREEHOUSE) runs quality preschools and also provides educational services to K-12 schools throughout the country. Tree House has revolutionized the concept of pre-school pedagogy in India through the use of innovative teaching methods and child-focussed personal care.

For more updates and information on the company, please log on to www.treehouseplaygroup.net

Disclaimer: This release may contain certain "forward looking" statements, which involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those that may be projected by these forward-looking statements.

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