Educomp Solutions Posts Excellent Q3FY09 results;
Strong growth across all business segments
Income up by 103% at Rs 145.27 crores
PAT zooms by 66% at Rs. 31.55 crores
Educomp Solutions, India's largest education company, today announced their financial results for the third quarter for the fiscal year 2008-09.
Educomp posted an impressive increase of 103.1% in its standalone income from operations for the present quarter to Rs. 145.27 crores as compared to Rs.71.52 crores reported in the corresponding quarter ended December 2007. On the consolidated basis, the net income from operations increased 130.75% at Rs.189.6 crores as compared to the corresponding quarter of the previous year.
Profit After Tax on the standalone during the quarter has gone up by 65.96 % to Rs.31.55 crores as compared to Rs.19.01 Crores reported in the corresponding quarter of the previous year.
The diluted EPS of the company stood at Rs. 44.66 per share for the 9 months ending Dec 31st on a consolidated basis.
"Our growth this quarter has been led by robust performance across our businesses. All our products have seen a notable increase in market penetration. Smart Class now reaches 1.7 million students across 1479 schools (212 additional schools this quarter) Schools under ICT implementation now stands at 9970 schools reaching over 5.5 + million students(1055 additional schools this quarter) . We also have Raffles Educomp International Colleges coming up in Delhi and Bangalore" Said Mr. Shantanu Prakash, CEO & MD, Educomp Solutions Ltd.
"Educomp is now an integrated education company - serving over 7.2 million students in India and 2.5 million outside India with strong growth across all verticals", he added.
"Education business being a largely recession proof, we have been able to maintain healthy growth. While our revenue is up by 130.7%, EBIDTA is up 97.4% and PAT is up 61.4% on consolidated basis despite the current global slowdown." said Ms. Sangeeta Gulati, CFO, Educomp Solutions Ltd.
The Smart class business of the company now reaches to 1.7 million students across 1479 schools signed up it. Smart class has witnessed a growth of 152.3 % on a year on year basis.
The ICT of Educomp now reaches to 9970 schools and has more than 5.5 + million students under the program. Under the K12 schools, Educomp is expanding to 17 cities across India.
About Educomp Solutions Ltd:
Educomp Solutions Ltd., incorporated in 1994, is a globally diversified education solutions provider and the largest education company in India. For many years, the company has been at the forefront of various pioneering initiatives in the e-education space & has grown as the largest technology driven innovative and number one K-12 education company. With an employee base of over 4500 professionals, Educomp currently serves 19,600 schools and 10.4 million learners and educators across the world. Educomp has 27 offices worldwide including an office in Canada, 20 in India, two in Singapore, one in Sri Lanka, and three in the United States. The Company operates through its various subsidiaries including authorGEN, Threebrix eServices, Learning.com, USA, AsknLearn Pte Ltd, Singapore and via its associates such as Savvica in Canada The company works closely with schools to implement innovative models to create and deliver content to enhance student learning. Educomp's long undiluted focus on the K-12 , curriculum design and teacher education space, in developing applications and products, has revolutionized leverage of information technology and Internet. For more information, visit www.educomp.com