Educomp Q4 profit doubles to Rs 145 cr

Education solutions provider Educomp today said its net profit more than doubled to Rs 145.66 crore in the quarter ended on March 31, 2011.

The company had posted Rs 64.92 crore profit after minority tax for the same period in last financial year. Total revenue of the company for the reported quarter was up by 47.18% at Rs 488.71 crore compared to Rs 332.04 crore posted in the fourth quarter of 2009-10.

For year ended March 31, 2011, Educomp registered 22% growth in its net profit at Rs 336.67 crore compared to Rs 275.86 crore reported in Financial Year 2010.

The company showed close to 30% increase in its revenue at Rs 1,350.89 crore for FY11 compared to Rs 1,039.49 crore posted at the end of FY10.

School learning solution segment contributed the highest revenue at Rs 378.61 crore followed by K-12 school segment solutions at Rs 42.75 crore in the reported FY11 quarter.

Online supplemental and global segment contributed Rs 39.21 crore while higher learning solutions Rs 28.14 crore to the total revenue.

Though contribution from higher learning solution was least but there was close to six fold increase in the revenue of this segment to Rs 28.14 crore for quarter ended on March 31, 2011 from Rs 5.72 crore in same quarter of last financial year.

For year ended March 31, 2011, revenues from school learning solution was up at Rs 1,009.46 crore compared to Rs 806.76 crore reported in FY10.

Online supplemental and global segment contributed Rs 140.30 crore, K-12 Schools accounted for Rs 135.73 crore and Higher Learning Solutions contributed Rs 65.40 crore in company's total revenue for FY'11.

During FY11, Educomp picked up majority stake in Gateforum Education Services which provides preparatory tools for Graduate Aptitude Test in Engineering (GATE).

Subsidiary of Educomp Solutions entered into an agreement with Universal Learn Today, promoted of The Vasant Valley School to set up 30 Vasant valley School across India.

Educomp also announced to set up a joint venture with the US based Zeebo to launch wireless education platform for children in India.

Shares of the company today closed with marginal increase of 0.87% higher at Rs 475.30 a piece compared to its previous close at BSE.