Educomp on Friday posted a net loss of ₹85.26 crore for the first quarter of the financial year 2015-16. It had posted a loss of ₹343.85 crore in the corresponding period last year.
The total income from operations remained stable at ₹143.22 crore in the first quarter of 2015-16 compared with ₹143.64 crore in the corresponding period last year.
The board of directors has approved the implementation of the Educomp Employee Stock Option Scheme 2015, subject to necessary approvals, for employees/ directors of the company and its subsidiaries.
The company informed BSE that the Nomination and Remuneration Committee on August 13 had granted 13 lakh stock options to the employees/director(s) of the company/subsidiaries under various ESOP scheme(s), at current market price, to be converted into one equity share of face value of ₹2 each on exercise of one option.
The vesting conditions and exercise period of the stock options would be as decided by the nomination and remuneration committee in line with the terms and conditions of the respective ESOP schemes.