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Aptech to issue 1:1 bonus shares

Aptech Limited, the software education company, proposes to issue bonus shares in the ratio of one for one share held.

Besides, the company's board has recommended a dividend of 30 per cent for 1997.

In spite of the liberal bonus announcement, the Aptech scrip has come under

T O D A Y

• Blah blah! • GES Tech targets India • Aptech bonus is 1:1 • TCS, Mashbra tie up

selling pressure on the Bombay Stock Exchange.

About 89,000 shares were traded on the exchange. Dealers said the company's declaration of 21 per cent rise in net earnings fell short of market expectations.

The company's turnover rose 24 per cent to Rs 2.02 billion from Rs 1.63 billion. The gross profit spurted by 54 per cent to Rs 318.3 million from Rs 206.2 million, indicating increase in gross profit margins.

However, after providing provision for substantially higher depreciation of Rs 50.6 million (Rs 18.1 million) and taxation of Rs 61.4 million (Rs 18.1 million), the net profit went up by 21 per cent t Rs 206.3 million from Rs 17 million.

Earnings per share on an annualised basis worked out at Rs 36.93 against Rs 30.46 in the previous year.

Commenting on the performance, Aptech Managing Director Ganesh Natarajan said that tight management operations and its multi-brand strategy have enabled it to achieve higher turnover and profits.

Its computer education division has recorded a growth of 18 per cent during 1997.

It has established operations in eight other countries including Malaysia, UAE, Bahrain, Qatar, Oman, Kenya and Nepal. Aptech Chairman Atul Nishar said they have drawn up Rs 200 million capital expenditure or expansion programme over three years.

- Compiled from the Indian media

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