Everonn Q3 loss widens, shares drop1 min read . Updated: 14 Feb 2013, 03:07 PM IST
The firm posts a loss of ₹129 crore in the quarter from a loss of ₹6.5 crore in the year earlier
Chennai: Everonn Education Ltd said third quarter loss widened because of a slowdown in business and rise in other expenses, sending shares down by 4.6% in afternoon trade on BSE.
The company posted a loss of ₹ 129 crore in the quarter from a loss of ₹ 6.5 crore in the year earlier.
Revenue for the quarter fell 82.3 % to ₹ 5.6 crore from ₹ 88.3 crore a year ago. Other expenses doubled to ₹ 115 crore from ₹ 57 crore in the year-ago quarter.
The Chennai-based company posted a ₹ 34 crore loss even in the second quarter.
In October last year, US-based test-conducting firm Prometric Inc. dropped Everonn as its Indian partner to conduct the computer-based common admission test (CAT) for the Indian Institutes of Management (IIMs) after two years.
Shares of Everonn dropped to ₹ 80.95 a share in afternoon trade on BSE, while the benchmark Sensex was down to 19,508.41 points.