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Aptech receives Rs 50.3 crore dividend from Chinese investment

Aptech receives Rs 50.3 crore dividend from Chinese investment
PTI
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First Published: Wed, Jun 29 2011. 07 44 PM IST
Updated: Wed, Jun 29 2011. 07 44 PM IST
Mumbai: Aptech Limited, the global career education and training company, has informed the stock exchanges that its wholly owned subsidiary company has received a dividend of an amount of $11,202,479 (equivalent to approximately Rs 50.3 crore) from BJB Career Education Co Ltd of China.
Aptech owns 22.4% stake in BJB Career Education, which is the leading vocational training company of China in the field of information technology.
“With the receipt of Rs 50.3 crore now and Rs 32.6 crore in February 2011 as dividend from BJB Career Education, Aptech’s balancesheet has been substantially strengthened. The company now has sufficient internal resources to invest in growing its existing businesses and explore newer growth opportunities,” Aptech’s MD & CEO Ninad Karpe said.
At the end of fiscal year 2010-11, the company had cash & cash equivalents of Rs 47 crore and current investments of Rs 10 crore without any debt on its balancesheet.
Aptech commenced its education and training business in 1986 and has trained over six million students globally.
The company has presence in 40 plus countries through its two main streams of businesses - individual training and Enterprise Business.
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First Published: Wed, Jun 29 2011. 07 44 PM IST