Everonn Q1 Net Revenue jumps by 88% to Rs 67 cr

World’s largest VSAT education network company Everonn Education Limited (BSE: 532876, NSE: EVERONN, Bloomberg: ESIL@IN, Reuters: EVSI.B) posted revenue of Rs.67 crores for quarter ended 30th June 2010 which is 88% up in comparison to the corresponding quarter ended 30th June 2009.

PAT stood at Rs.6.93 crore, a 37% growth over Rs. 5.04 crore in the corresponding quarter last year.

The EBIDTA has risen by 47% to Rs. 21.72 crore as on 30th June 2010 from Rs. 15 crore compared to corresponding quarter in the previous year, ended 30th June 2009.

The EPS (Earnings per Share) for this quarter stood at Rs. 4.59 as compared to Rs 3.34 for corresponding quarter in fiscal year FY’10.

Commenting on the results Mr. P. Kishore, Managing Director, Everonn Education Limited said, “Everonn is on a constant endeavour to carve out a name in the sphere of education. A name that is synonymous to high quality affordable education within the reach of all. A 100% Educated India is the dream we see here at Everonn, and this is a realizable dream. India is poised to usher in a glorious future and take its proper place in the global educational front. Everonn intends to contribute its share of well educated, trained professionals in all spheres of education.”

Some recent key developments at Everonn Education Limited:

• Everonn Education bags project with Government of Haryana for implementation of Comprehensive Computer Education Project (CCEP). The Rs 47 crore project, covers 213 schools across 20 districts in Haryana.
• Everonn Education Limited has signed a MoU with the world’s largest Open University IGNOU, for certification of their courses.
• Everonn ventured into setting up their own brand of district level K-12 CBSE  schools - “KenBridge Schools” across India.
• QAI the global workforce development leader and Everonn partner to Increase the employability quotient amongst students graduating from various academic institutions.
• Everonn Business Education Limited (EBEL) launched its Bottom of Pyramid Brand IIPS (Indigrow Institute of Professional Studies) at 65 locations in India.  EBEL acquired 65 INC (ICFAI National Colleges), spread across 20 states in India. IIPS offers MBA (2 years), Executive MBA (1 year), MBA (Retail Management) with Retailer Association of India and BBA program.  Each of these centres will offer both regular and continued education programs.  A dedicated team of around 650 employees in 65 campuses are working towards building IIPS as the largest retail brand on business management education in India.

About Everonn Education Limited
Everonn has been a leading presence in the Indian education industry for over two decades and is listed on both the BSE and NSE. As India’s first education and training company to offer satellite-enabled learning, Everonn is a pioneer in facilitating education using breakthrough technologies. With its unwavering passion, Everonn has been on a constant quest to be the first to capitalize on the latest in pedagogy and technology as a tool to improve learning across the country.

Everonn has now embarked on a mission to revolutionalize and transform the educational landscape of India by setting up and managing world class educational institutions across the nation - from Pre-schools to B-schools. These educational institutions will be spread across block levels, district levels and metros.

Everonn today reaches out to millions of students through 8883 learning centres across 27 states and works with 16 State Governments of India. (30th June 2010).

Everonn today is the largest VSAT education network in the World.