Tree House Education and Accessories (Tree House), India's largest self-operated pre-school chain, today, said the company's net profit has more than doubled for quarter ended March 2015. The net profit for the quarter stood at Rs 171.2 million compared to Rs 80.4 million in same period last year.

Revenue from operations for the quarter rose 41.77% to Rs 506.8 million as compared to Rs 357.5 million for the corresponding quarter last year.

Fully diluted EPS for the quarter ended Mar. 31, 2015 stood at Rs 4.40. 

Commenting on the results, Rajesh Bhatia, Managing Director of Tree House, said, 'I am pleased to announce a robust increase in our operational and financial performance for the quarter and full year. FY15 took us closer to our goal and passion of providing quality education to a larger population of children by focusing on excellence and creativity. As of Mar.31, 2015, we had a network of preschools with our presence spanning across 88 cities. Such growth is attributable to our deep understanding of the education space, the robustness of our business model along with our innovative methods that make learning a dynamic activity for our young children. We have also witnessed further traction in our day care business.

While expansion of preschools was key to our growth, we maintained sharp focus on enhancing financial performance simultaneously; as a result we registered 31.6% growth in topline and 38.65% increase in Profit After Tax in FY15.

We also took major steps towards strengthening our balance sheet with the monetization of K-12 properties owned by Tree House. In FY15, we have received Rs 171 million from divestments of K-12 land and in Q4 we signed an MOU for consideration of Rs 525 million. We will deploy these funds towards debt reduction and expansion of business operations. This will be further be aided by money raised through the recent QIP and continuing operating cash flows.  

With each passing day, it is our effort to make a significant contribution to the education landscape. We believe that our trusted brand is bringing meaningful change to the lives of our customers, the young children just starting off in their lives. By remaining focused on this objective, we are positioned to deliver secular long-term growth over several years.'

Shares of the company gained Rs 3.7, or 0.92%, to trade at  Rs 403.90.  The total volume of shares traded  was  4,086 at the BSE (11.25 a.m., Thursday).