EdServ FY11 Net Profit up 129% at Rs.41cr, Revenues up 134% at Rs.122cr
Chennai based Education Services Company EdServ has announced that its Net Profit for 12 months ended 31st March 2011 has more than doubled to Rs.41crores from Rs.18cr registered in the same period last year. Revenues for the full year ended 31st March 2011 shot up 134% to Rs.122cr from Rs.52.11cr registered in the 12months ended 31st March 2010. EPS (Earnings per Share) stood at Rs. 26.79 as on 31st March 2011. The Board of Edserv has recommended a dividend of Rs. 3 per share for FY11.
- Signs up with IL&FS education to take their K-12 e-contents in lampsglow.com
Net Profit for Q4 ended 31st March 2011 went up 86% to Rs.11.52cr from Rs.6.18cr for the Q4 ended 31st March 2010. Revenues for Q4 ended 31st March 2011 increased 102% to Rs.42.15cr from Rs.20.79cr registered in Q4 ended 31st March 2010.
Signs Agreement with IL & FS education
EdServ has signed an agreement with IL & FS Education whereby the company will deliver and support interactive teaching and learning environment in schools through Technology based eLearning solutions. With the aid of innovative technology platform like K-Yan (Knowledge Yan), EdServ will be further strengthening its presence in the school segment and will also target solutions in regional languages including Tamil, Telugu, Hindi, Marathi and Kannada. The companys school expansion continues to grow with the student reach through schools increasing by 40%.
EdServ has also expanded its All India Network of Dealers & Distributors for its online offering by 30%.Full Year Financial Highlights
Q4 FY11 Financial Highlights
Commenting on the FY11 performance, S. Giridharan, Chairman and CEO, EdServ said, "FY11 has been a year of strong growth for EdServ. We have more than doubled both the revenues and net profit for the full year. During 2010-11, the company has expanded and strengthened its presence in all its area of operations Academics, Test Preps, Higher education support, Skill development training and Job orientation. Our sign-up with IL&FS education is significant in improving our reach to K-12 students providing academic support in their respective Boards of school education Pan India. These will be the growth drivers for the company going forward."
On the expansion plans for the next 12 months, Giridharan said, "As part of our expansion plans for FY12, we will expand our reach to offering our education products through TV, Tablet and Mobile device based users, apart from Internet based Laptop and Desktop. Other focus areas for the year include expanding our offering in the online test prep space to all leading Indian and International entrance examinations for Higher education. Our plan is also to reach out to students who cant afford Internet connections and devices for accessing LAMPSGLOW contents through specialized training centers called EdInstitute that will provide the much needed access to these students, especially in Tier 2 and 3 towns in the country."