Aptech gains after entering into formal K-12 school business

Aptech rose 2.35% to Rs 63.20 at 10:00 IST on BSE after the company's announcement that it has entered into the formal K-12 school business.

The company made announcement after market hours yesterday, 27 October 2015.

Meanwhile, the BSE Sensex was down 102.93 points, or 0.38%, to 27,150.51.

On BSE, so far 23,685 shares were traded in the counter, compared with an average volume of 1.01 lakh shares in the past one quarter.

The stock hit a high of Rs 63.70 and a low of Rs 62.60 so far during the day. The stock hit a 52-week high of Rs 87.90 on 5 November 2014. The stock hit a 52-week low of Rs 46.30 on 26 June 2015.

The stock had underperformed the market over the past one month till 27 October 2015, rising 3.69% compared with 5.37% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 6.86% as against Sensex's 1.12% fall.

The small-cap company has an equity capital of Rs 39.89 crore. Face value per share is Rs 10.

Aptech said the maiden school will come up in Kabul in Afghanistan and will seek students in March 2016. To be run in partnership with a Focal education trust, Aptech's responsibility will be to develop curriculum, provide content, deploy Aptech's pedagogy, bring necessary education board approvals, deploy evaluation strategy and provide training & certification for the faculty enabling them to excel in education delivery. The school will follow the CBSE curriculum and will aim to provide a wholesome experience for the students, with a mix of contemporary content, delivery by well trained teachers and availability of best extracurricular activities, the company said in a statement.

Aptech has a sizeable presence in over 40 countries through its brands and with an entry into the school space will further strengthen its position as a global education and training company. On the same business model, the company intends to start over 20 schools internationally in the next five years, the company added.

Aptech's consolidated net profit fell 3.16% to Rs 2.75 crore on 24.62% decline in net sales to Rs 36.82 crore in Q2 September 2015 over Q1 June 2015. The result was announced before market hours yesterday, 27 October 2015.

Aptech commenced its education and training business in 1986 and has globally trained over 7 million students. Aptech is the first IT training and education company to get this certification for education support services in 1993.

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