Aptech revenue soars, expands in China

Aptech revenue soars, expands in China

Tuesday, 31 October 2006, 08:00 Hrs
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Chennai: Aptech Limited, Indian IT education company, on Tuesday reported improved financial performance for the quarter ended September 30, due to its expanding global presence in China.

During the third quarter, it has posted global revenues of 3.22 billion ($71.50 million), representing a 90 percent increase compared to the same period last year.

Net revenues stood at 547 million while profit after tax was 106 million, the company said in a statement.

"Over the last two years Aptech has put into place a lot of initiatives for improving productivity and generating growth, which are now yielding results," Aptech CEO Pramod Khera said.

Aptech set up its IT education and training business in 1986 and has trained over 4 million students across the world so far.

Its retail business has witnessed a remarkable growth, showing 86 percent increase over last year. "We continue to grow at a scorching pace in China," Khera said.

During the quarter, Aptech opened 20 new centres in China, taking the total number of Aptech centres in that country to 225.

The revenue of the China operations rose from 160 million to 247 million during the quarter under review, showing an increase of 54 percent, the company said.

Aptech has acquired 70 percent stake in of the Mumbai-based Synergetics Information Technology Service India Pvt. Ltd.

Another subsidiary Arena Multimedia plans to open its centres in Syria, Mongolia and Afghanistan while it has commenced operations for centres in Iran and Dubai.
Source: IANS
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