Aptech gets Rs 50 cr dividend from China

MUMBAI, INDIA: Career education and training company Aptech Limited said on Wednesday that its wholly-owned subsidiary company has received a dividend of approximately Rs. 50.3 crore ($ 11,202,479) from BJB Career Education Co Ltd of China.

Aptech owns 22.4 per cent stake in BJB Career Education, which is the leading vocational training company of China in the field of Information Technology, said a press release.

“With the receipt of Rs. 50.3 crore now and Rs. 32.6 crore in February 2011 as dividend from BJB Career Education, Aptech’s balance sheet has been substantially strengthened. The company now has sufficient internal resources to invest in growing its existing businesses and explore newer growth opportunities,” said Ninad Karpe, MD & CEO Aptech Limited.

At the end of fiscal year 2010-11, the company had cash and cash equivalents of Rs 47 crore and current investments of Rs 10 crore without any debt on its balance sheet.

Aptech, which commenced its education and training business in 1986, said it has trained over six million students globally, and it has presence in over 40 countries through its two main streams of businesses - individual training and Enterprise Business.