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Educomp Solutions Ltd reported a sharp dip of 77.5 per cent in its consolidated net profit for the September quarter at Rs 13 crore against Rs 58 crore in the same period last year.
The net sales of the company rose by 15.5 cent to Rs 319.70 crore compared with Rs 276.70 crore last year.
During the quarter, the company made a strategic shift to asset-light joint venture model, resulting in a sharp decline in its capital expenditure to Rs 48 crore, according to a release.
On a consolidated basis, Educomp will become free cash flow positive by 2014-15.
Cumulative revenues from its subsidiaries grew eight per cent to Rs 55.20 crore with most of these moving towards breakeven, it said.
On Friday, the company's scrip closed on BSE at Rs 241.75 down 10.35 per cent from the previous day's close.
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