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Buoyed by proceeds from the sale of its Chennai property, Aptech posted an 86 per cent rise in net profit for the fourth quarter ended March 31.
The IT education and training company recorded a net profit of Rs 13.87 crore as against Rs 7.45 crore in the same quarter a year ago. Its revenues rose by 35 per cent to Rs 33.28 crore (Rs 24.64 crore).
The company sold its office space in Chennai for Rs 8 crore during the quarter, a spokesperson said.
For the full year ended March 31, 2013, Aptech reported a 38.8 per cent rise in net profit at Rs 25.27 crore (Rs 18.2 crore), while revenues grew 5.2 per cent to Rs 100.39 crore (Rs 95.37 crore).
Buyback plan
In a separate regulatory filing, the company said that it intends to buyback shares of up to 25 per cent of capital. The company will make a maximum payout of Rs 64.66 crore at price up to Rs 82 a share for the buyback.
It has recommended a final dividend of Rs 2.50 a share, subject to shareholder approvals.
On Tuesday, the company’s scrip closed up 8.56 per cent at Rs 63.4 on the BSE.
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