Aptech Q3 net profit crashes to Rs 50 lakh

Our eFE Bureau in Mumbai

Aptech Ltd has posted a net profit of Rs 50.3 lakh for the quarter ended September 30, 2001 as compared to Rs 25.35 crore for the corresponding period last fiscal. Total income has decreased from Rs 156.61 crore in SQ 2000 to Rs 73.07 crore in the quarter ended September 30, 2001. Global revenues decreased from Rs 188.16 crore to Rs 100.08 crore.

The company has approved in principle a composite scheme of arrangement or reconstruction in respect of the transfer and demerger of the training division of the company to Aptech Training Limited (presently a wholly owned subsidiary) and the merger or amalgamation of Hexaware Technologies Limited (HTL) with the company with effect from 1 April, 2001.

Pending the completion of the transfer and demerger of the training division and the merger or amalgamation of HTL with the company, the above results include the income and expenditure of the training division and do not include the income and expenditure of HTL.