Online math tution, does it have potential

Can teaching 2nd PUC math online have potential to make money?
Question : How many students studying 2nd PUC math have easy access to internet? T
o answer the above question...
Total number of students studying 2nd PUC in Karnataka state = 404656 ( Source Karnataka education 2006-2007 )
There are 3 streams in 2nd PUC, Science, Arts and Commerce. Science was the preferred stream when I was studying 2nd PUC, so lets assume the distribution is 40% Science, 60% for Arts and Commerce So total number of students is 160000 ( This is the total target audience).
As the penetration of internet is pretty low in rural Karnataka, we need to consider on the cities namely Bangalore, Mysore, to some extent Mangalore, not sure about the others.
The total students in 2nd PUC math in the above students is approx 100000, so the target is now 40000
So how many students in the 40000 have an internet connection at home, i assume 4-5% max, lets minimize this to 1500.
And how many students in 1500 are willing to go for online tutions, 20% ? = 300
So if I charge 100 per student I make 30000/year
100 per student is 30000/year
But the fact that college students are smart and get copies done overnight for videos available online, can completely kill the venture.
If I plan to make this happen, then it must be for free.