EdServ records significant jump in Revenues and Net Profit
- Revenues up 517% at Rs.52.12crores, Net Profit up 388% at Rs.18.02crores for FY10
- Recommends dividend of 30% in the first year after its IPO
- Targets 200% growth in revenues with EPS of Rs. 35 for FY11
In the first full year after its IPO, Chennai based Education and Placement Company EdServ has announced that it has recorded a significant growth both in revenues and net profit.
EdServs revenue for the year ended 31st March 2010 grew by 517.54% to Rs.52.12Crores from Rs.8.44Crores registered for the year ended 31st March 2009. The companys Net Profit for the year ended 31st March 2010 increased to Rs.18.02Crores, a rise of 388.35% from Rs.3.69crores it registered for the year ended 31st March 2009. The company has achieved an EPS (Earnings Per Share) of Rs.15.01.
30% Dividend
In light of the significant growth in Net Profit achieved during the year, the Board of Directors of the company that met in Chennai today recommended a dividend of 30% (Rs.3 per share).
Annual Result
|
Year ended 31st March 2010 |
Year ended 31st March 2009 |
percentage Increase |
| Revenues |
Rs.52.12crores |
Rs.8.44crores |
517.54% |
| Net Profit |
Rs.18.02crores |
Rs.3.69crores |
388.35% |
Q4 Results
Revenues for Q4 ended 31st March 2010 grew by 656% to Rs.20.79crores from Rs.2.75crores
registered for Q4 ended 31st March 2009. The company?s Net Profit for Q4 ended 31st March 2010
increased to Rs.6.19crores, a rise of 284.47% from Rs.1.61crores registered for Q4 ended 31st March
2009.
|
Q4 ended 31st March 2010 |
Q4 ended
31st March 2009 |
percentage Increase |
| Revenues |
Rs.20.79crores |
Rs.2.75crores |
656% |
| Net Profit |
Rs.6.19crores |
Rs.1.61crores |
284.47% |
Q4 Highlights
- Significant Employability skills training as VTP (Vocational Training Provider)
- Acquired K thru 12 products to spread EdServs presence from Cradle to Careers
- All products integrated as Retail web offering goes live in www.lampsglow.com
- Becomes a full-fledged first-of-its-kind online education company in K-12 space
- Attained a Pan India reach with online registration of students for its various products
Commenting on the FY10 performance, S. Giridharan, Chairman and CEO, EdServ said, In the first full year after the IPO, the companys performance, both in terms of revenue and profit, has been in line with the guidance that we had provided at the beginning of the year. We have ended the year with an impressive run rate of 30,000 students per month Pan India registered across our various learning and placement business streams that include VTP skills training, online K thru 12, tuitions, and UG learning and assessments, apart from careers.
Guidance for FY11
On the outlook for the year 2010-11, Giridharan said, ?We are bullish on the outlook for the next 12 months and are targeting to achieve a 200% growth in revenues that will take our revenues well over Rs.150Crores. We are targeting an EPS of Rs.35 for the year ended 31st March 2011. As part of our expansion into the Schools space by a unique management control based adoption model, we will be investing significantly into over 200 Vidhyadhana schools and will be rolling out the school initiative this year.
Along with the Schools expansion, the Government Training and the online Retail lampsglow.com Pan India services will be key growth drivers this year.?
Fund Raising Plans
On the fund raising plans, Giridharan said, ?We expect our Rs.130crore fund raising plan, through the QIP route, to be completed this quarter. With this 2nd round funding (after the IPO), we will be able to achieve the planned scalability and further improvement in our performance, going forward.?
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