| Aptech's net profit up 67 %
 IT Education major Aptech Limited's unaudited financial results for the quarter ended September 30th, 2003, announced on October 30, 2003, show a net profit of Rs 3.90 crore, global billings of Rs 125.28 crore and steady growth for all brands in its fold. The unaudited financial results were taken on record at the Board Meeting held on October 30th, 2003.
On the domestic front, the Quarter saw major initiatives in formal mainstream academia, triggered by strong marketing initiatives, while on the international front, the focus continued to be on increasing its presence in developing countries.
Financials at a glance Qtr July to Sept 2003:
Total Revenue grew by 5 % on year-to-year basis and 12 % on QoQ basis from Rs.41.28 crore (Sept 2002), Rs. 38.83 crore (June – 03) to Rs.43.32 crore (Sept 2003); the Company has reported a much-improved performance on the bottomline both at the operating and net levels.
The Gross Profit After Interest but before extraordinary items, Depreciation and Tax has been reported at Rs.8.24 crore for the quarter ended Sept 30, 2003 against Rs.7.17 crore (Sept 30, 2002), registering an impressive gain of 15%.
The Profit After Tax and after extraordinary items has increased by 67% on YoY basis from Rs.2.33 crore in the corresponding quarter of previous year to Rs. 3.90 crore for the quarter ended Sept 30, 2003.
International operations
Global Billing including subsidiaries and the China Joint Venture has increased by 39 % from Rs 90.43 crore during quarter ended Sept 2002 to Rs. 125.28 crore for the quarter ended September, 2003. On a sequential basis, there was a significant improvement in Global Billing that increased by 20 % from Rs.104.13 crore in the quarter-ended Sept-2003.
Commenting on the overall performance of the company, Pramod Khera, CEO and Managing Director, Aptech Ltd. said, "The mood is one of quiet determination. 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."
Aptech University & other initiatives
The recently-established Aptech University, for which approximately Rs 25 crore have been earmarked over a five to six year period, will become the main platform on which a Global Learning Corporation will be built. The University will focus on high-quality academics and original research in the areas of education, technology and management. The Department of Scientific & Industrial Research (DSIR), Government of India, already recognises Aptech Ltd. as an R & D Centre. One of the R & D projects pertains to the development of a LCMS (Learner Content Management System) in collaboration with IIIT, Allahabad. This is a prestigious project, which is being partly funded by the Government of India, and which when completed will give Aptech’s on-line learning initiative a big boost. The research focus of the University will give a fillip to such R & D activities. In addition, the University will offer undergraduate, post-graduate & doctoral qualifications in IT & Non-IT areas. The University will also have a distance education wing, under which it will offer IT & Non-IT courses in the distance education mode in India and abroad.
Significant Marketing Initiatives
Akshar, a mass literacy programme launched in association with the Computer Society of India, is designed not only to break barriers for beginners but also make computers accessible for the underprivileged. No less significant was the Oracle tie-up
Aptech also bagged new contracts with several State Governments and Enterprises and this segment is expected to be a major growth driver in the future.
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