Edserv Q4 net up 86% at Rs 11.5 cr

IT training provider Edserv Softsystems today reported a growth of 86% in consolidated net profit at Rs 11.52 crore for the fourth quarter ended March 31, 2011.

The company had a net profit of Rs 6.18 crore in the same period last year, Edserv Softsystems said in a statement.

"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," EdServ Chairman and CEO S Giridharan said.

Revenues rose to Rs 42.15 crore during January-March quarter, against Rs 20.79 crore in the same year-ago period.

The board has recommended the a final dividend of Rs 3 per share to the shareholders of the company.

Speaking about expansion plans for financial year 2012, 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".

The board has also approved the constitution of FCCB/ADR /GDR committee to carry out necessary acts as may be necessary.

For the full year, the company has reported a growth of 129% in net profit at Rs 41.21 crore, over the same period previous fiscal.

Shares of Edserv Softsystems were trading at Rs 146.30 on the BSE, up 0.90% from the previous close.