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The Chennai-based education services company EdServ has reported a 86 per cent jump in its net profit to Rs 11.52 crore for the fourth quarter ended March 31, 2011 as against Rs 6.18 crore for the corresponding quarter last year. Revenues doubled to Rs 42 crore (Rs 21 crore).
For the full year, the company's net profit was Rs 41 crore (Rs 18 crore) on revenue of Rs 122 crore (Rs 52 crore).
The company's board has recommended a dividend of Rs 3 a share for 2010-11, according to a company press release.
EdServ has signed an agreement with IL&FS Education whereby the company will deliver and support interactive teaching and learning environment in schools through technology-based eLearning solutions.
Commenting on the FY11 performance, Mr S. Giridharan, Chairman and CEO, EdServ, said in fiscal 2012 the company will expand its reach to offer education products through television, tablet and mobile device-based users, apart from Internet-based laptop and desktop.
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