Aptech profit rises by 63

However, software services income recorded a phenomenal growth from Rs 2.77 crore last year to Rs 25.62 crore this year. The company8217;s expects this to double in 1999, Natrajan said. Other income contributed Rs 82.91 lakh Rs 37.84 lakh to the revenue. Depreciation was higher at Rs 8.03 crore Rs 5.06 crore and provision for taxation Rs 7.98 crore Rs 6.14 crore. Interest amounted to Rs 10.33 crore.

The Aptech board also approved a private placement of10 to 12 per cent of equity through the book-building route to fund its expansion plans. quot;It will not be less than Rs 710 crore,quot; chairman Atul Nishar said about the per share pricing. The firm is targeting Rs 90 crore through the private placement. Future plans include opening more training centres and increasing their spread from 20 to 40 countries, apart from increasing software business.

The earnings per share on the expanded equity capital of Rs 11.16 crore was Rs 30.19 Rs 36.93. The company equity increased due to allotment of bonus shares in the ratio of 1:1.

The company recently signed an agreement with Micrsoft for Microsoft Certified Exams and IBM for developing courses on e-commerce. On the software exports front, Natrajan said it has garnered business of over Rs 30 crore from a large overseas client for setting up an offshore centre.