Everonn Q2 revenue up by 48%

• Net Income Up by 48% to Rs. 108.05 crores
• PAT Up by 32% to Rs. 15.55 crores
• EPS at Rs 10.29

Everonn Education Limited (BSE: 532876, NSE: EVERONN, Bloomberg: ESIL@IN, Reuters: EVSI.B), World’s largest VSAT education network company posted revenue of Rs. 108.05 crores for quarter ended 30th September 2010, a 48% increase compared to the corresponding quarter last year.

Everonn posted consolidated revenue of Rs. 108.05 crores for the quarter ended 30th September 2010 against Rs.73.13 crore during the corresponding quarter in the previous year.

The Company’s net profit shot up to Rs 15.55 crore – a 32% jump as compared with the previous year’s performance.

The EPS (Earnings Per Share) for this quarter stood at Rs. 10.29

Commenting on the results Mr. P. Kishore, Managing Director, Everonn Education Limited said, "We are very happy to report that Everonn has registered commendable growth across our businesses, primarily as a result of our ability to execute projects with significant focus on cost and operational excellence. With a clear focus on our strategy that is based on quality and leadership, Everonn is poised to strengthen its core competency by exploring emerging opportunities aimed at transforming the education system of India."

Some recent key developments at Everonn Education Limited:

• Everonn Education signed an MoU with Future Group to jointly deliver retail programs across the country
• Everonn Education signed an MoU with Madras University to offer soft skills courses to the university departments for the academic year 2010-11
• Everonn Education bagged 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

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 over 3 millions of students through 9689 learning centres across 27 states and works with 12 State Governments of India. (30th Sep 2010).

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