Aptech posts net loss of Rs 22.35 crore

Aptech posts net loss of Rs 22.35 crore

Leading IT training firm of India, Aptech has declared its financial results for the fiscal year 2008-09 and 09-10. The company has informed that it has incurred a loss in last 15 months. Aptech has incurred a consolidated net loss of Rs 22.35 crore for the 15-month period that ended in 31st March, 2010.

The consolidated net profit was reported to be Rs 44.44 crore for the January 1, 2008-December 31, 2008, period. This has been informed by the firm in a filing at the Bombay Stock Exchange.

Aptech to unlock value of its equal Joint Venture in China

Computer training provider, Aptech is planning to unlock the value of its equal joint venture in China by transferring it to a holding company and listing it in the US market.

The company had entered China in 2000 through a 50:50 JV with a local partner - Beijing Jade Bird - to set up Beijing Aptech Beida Jade Bird Information Technology Co.

Aptech said that its board had received an offer from the Chinese partner, whereby both the JV partners will have full alignment of equity interest in the new holding company.