Core Projects Q1 net jumps 53% at Rs 66 cr

Education solutions provider Core Projects and Technologies today reported a 52.87% growth in its consolidated net profit at Rs 66.18 crore for the quarter ended June 30, 2011.

The company had reported a net profit of Rs 43.29 crore during the corresponding period last fiscal.

Net sales of the company stood at Rs 325.53 crore during the quarter under review, up 47.93% as compared to the net sales of Rs 220.05 crore reported during the April-June quarter of 2010-11, the company said in a filing to the Bombay Stock Exchange (BSE).

In a separate statement, company's Chairman and Global CEO Sanjeev Mansotra said, "The strong numbers are a result of sustained investments in new growth engines globally over the last year across K-12, higher education and skill development segments."

Besides India, the Core Projects and Technologies has operations in the US, UK, Caribbean and Africa and offers Information and communications technology (ICT), content, teacher training, vocational training, examination management system, language skills among others.

The company currently has a total order book of Rs 1,100 crore across the world, the statement added.

Shares of the company closed today at Rs 301.15 apiece on the BSE, up 0.27% from the previous close.