Chennai based eLearning education support services Company EdServ has announced that the Revenues for Q3 ended 31 December 2011 stood at Rs. 15.10cr as compared to Rs.31.16cr registered in the same period last year. The company posted a Net Profit of Rs. 48.83lakhs for Q3 ended 31 December 2011 as compared to Rs.11.54crore registered in the same period last year.

Commenting on the results, S. Giridharan, Chairman and CEO, EdServ said, "The dip in revenues has been as a result of delay in some of the eLearning projects that we expected in Q3. We are hopeful that these projects will be signed up sometime this quarter and we expect a bounce back over the next two - three quarters."