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Aptech Q3 net rises 61 per cent

Aptech has announced its third quarter revenues of Rs 1.26 billion, an increase of 36.66 per cent over the third quarter of 1998.

Net profit, after providing for a higher depreciation at Rs 54.5 million and tax provision of Rs 35 million, recorded an increase of 61 per cent to Rs 150.4 million as compared to Rs 93.4 million for the same period last year.

T O D A Y

• Underwears@IT.COM • Aptech results • Yodlee.com

Improved expense management, combined with a good third quarter, led to better PBDT margins at 19.04 per cent (previous year 15.52 per cent), translating to Rs 239.9 million.

Net margins improved from 10.13 per cent further to 11.93 per cent despite a higher depreciation charge of Rs 34.7 million.

Aptech's software revenues in this quarter have recorded a 78.43 per cent growth.

The global software business did better because of development assignments from global corporations in areas ranging from educational online software to Internet technologies to e-commerce portal development.

During the quarter, education and training revenues registered a healthy increase of 31.84 per cent, backed by encouraging career enrolment and success in high-end corporate training division and Web engineering and multimedia programmes.

Announcing the results, Chairman Atul Nishar said "Our software strategy is paying rich dividends in India and abroad and we are well on our way to becoming a global force to reckon with. Coupled with the successes in international training, we are confident of achieving the goals of international expansion and exports."

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