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Aptech Q2 net profit up 67%

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CIOL Bureau
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NEW DELHI: Aptech Ltd has announced a net profit of Rs 3.90 crore for the quarter ended September 30, 2003, up 67 percent as compared to the corresponding period last year. Total revenue for the second quarter grew by five percent on year-to-year basis to Rs 43.32 crore from Rs 41.28 crore in the corresponding period last year.



The Gross Profit After Interest but before extraordinary items, Depreciation and Tax has been reported at Rs 8.24 crore for the quarter ended September 30, 2003 against Rs 7.17 crore in the corresponding period last year, registering a gain of 15 percent.



The Profit After Tax and after extraordinary items has increased by 67 percent on YoY basis from Rs 2.33 crore in the corresponding quarter of previous year to Rs 3.90 crore for the quarter ended September 30, 2003.



Global billing including subsidiaries and the China JV has increased by 39 percent from Rs 90.43 crore during quarter ended September 30, 2002 to Rs 125.28 crore for the quarter ended September 30, 2003. On a sequential basis, global billing increased by 20 percent from Rs 104.13 crore in quarter-ended September 30, 2003.



Commenting on the overall performance of the Company, Aptech Ltd CMD Pramod Khera said, "Having carved a space for ourselves in the non-formal sector, we have worked out elaborate plans to enter the formal mainstream academia. The smooth integration with SSI’s Education business, apart from affording cost - efficiencies and market penetration, means that Aptech Ltd today wields three popular brands in the IT Training segment: ACE, Arena Multimedia and SSI Education. Our focus will continue to be on the customer and on a value-delivery model. Elsewhere, on the international scene, we believe there are strong growth opportunities in developing countries, exemplified by our alliances and tie-ups with various universities during the quarter".





(CNS)

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