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Everonn Education recovers on strong Q3 earnings

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Everonn Education jumped 4.66% at Rs. 505 at 10:28 IST on BSE after consolidated net profit rose 56% to Rs. 18.95 crore on 44.2% increase in net sales to Rs. 115.27 crore in Q3 December 2010 over Q3 December 2009. The stock had slumped 13.47% to Rs. 482.50 in a weak market on Tuesday, 8 February 2011 when the result was announced during trading hours. The stock had lost 18.42% in the preceding three sessions to Rs. 482.50 on 8 February 2011 from a recent high of Rs.591.50 on 3 February 2011. Meanwhile, the BSE Sensex was almost unchanged for the day at 17,775.26. On BSE, 2.20 lakh shares were traded in the counter as against an average daily volume of 1.11 lakh shares in the past one quarter. The stock hit a high of Rs. 514.80 and a low of Rs. 476.55 so far during the day. The stock had hit a 52-week high of Rs. 756.45 on 7 October 2010 and a 52-week low of Rs. 334 on 26 May 2010. The stock had underperformed the market over the past one month till 8 February 2011, falling 22.41% compared with the Sensex's 9.73% decline. The scrip had also underperformed the market in past one quarter, sliding 27.10% as against 14.75% decline in the Sensex. The small-cap education service provider has an equity capital of Rs. 15.12 crore. Face value per share is Rs. 10.

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