Educomp leaps by 73% in consolidated net profit


Backed by strong performance of its education solutions software Smart Class which is targeted at schools, Educomp Ltd has registered 73% jump in consolidated net profit to INR 54.5 crore for quarter ended March over last year. Its total revenues grew more than 50% to close the quarter at INR 184.3 crore. The education solutions provider attributed the performance to its two major products, Smart Class and instructional & computing technologies (ICT in education). Revenues as well as profits from Smart Class more than doubled for the quarter as it expanded its reach to 1.98 million students across more than 1,700 schools in the country. Similarly, the ICT business of Educomp, which works in partnership with 13 state governments, has now reached more than 12,000 schools covering 6.5 million students under the program.

Educomp which recently forayed into budget schools, saw net profit and revenues increase by over 80%. While the net profit grew to INR 128.2 crore for the full year 2008-09, it was at close to INR 70 crore in the previous year. Its total revenues increased to INR 507 crore this year from INR 274.5 crore last year.

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