Everonn net profit jumps 39 pc

CHENNAI: Education services company Everonn reported a 39 per cent jump in net profits for the first quarter ending June 30, 2011.

The city-headquartered company reported net profit at Rs 11.03 crore for the first quarter ending June 30 2010, up by 51.9 per cent from Rs 7.26 crore registered during the same period of the previous year.

Net profit for the year ending March 31, 2011 stood at Rs 72.96 crore, it said.

Total income for the first quarter ending June 30, 2011 grew by 50 per cent to Rs 66.85 crore from Rs 44.56 crore registered during the same period of previous year.

For the year ending March 31, 2011 total income stood at Rs 301.62 crore it said.

"We will continue to strive towards realising our vision of being market leaders in defining education as a new asset class",Everonn Education Ltd Managing Director P Kishore said.

The company said it currently has 10,139 learning centres across the country and has tied up with 16 State governments for various projects.