The Hindu Business Line : Educomp profits surge 145%

New Delhi, April 23 Educomp Solutions Ltd, an e-learning service provider has registered a 145 per cent rise in its net profit at Rs 31.46 crore for the quarter ended March 31, 2007 as against Rs 13. 1 crore a year ago.

The stand-alone total revenue has increased to Rs 119.53 crore for the quarter ended March 31, from Rs 51.86 crore in the year-ago period.

For the year ended March 31, Educomp posted a net profit of Rs 70.06 crore, against Rs 28.58 crore in the period under review last fiscal. Total revenue of the company increased to Rs 276.92 crore for the year ended March 31, from Rs 112.17 crore a year ago.

In a release, the company said it is planning to raise up to $500 million through the issue of securities, including Foreign Currency Convertible Bonds (FCCBs) or Global Depository Receipts (GDRs) in the international markets.

On a consolidated basis, the group reported a profit after tax of Rs 31.70 crore for the quarter ended March 31, and a total revenue of Rs 127.38 crore. For the year ended March 31, the group reported a profit after tax of Rs 70.43 crore and total revenue of Rs 304.22 crore.

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