Aptech down 3% post Q4 net loss of Rs7.27cr

Aptech in its March 2020 (Q4FY20) quarter, recorded a net loss of Rs7.27cr against a net profit of Rs4.71cr in Q4FY19.

May 26, 2020 12:05 IST India Infoline News Service

Aptech Limited
The IT-training services company Aptech in its March 2020 (Q4FY20) quarter, recorded a net loss of Rs7.27cr against a net profit of Rs4.71cr in the corresponding period of the previous year.

Meanwhile, revenue from operations also plunged to Rs39.9cr in the latest quarter versus Rs63.27cr in Q4FY19. On revenue-wise breakup, the revenue in the retail segment came in at Rs29.56cr, on the other hand, the institutional segment registered revenue of Rs10.33cr.

In its financial audit report, Aptech said, "Adverse Revenue impact on account of the pandemic is estimated to be around Rs 16 Cr during the quarter ended March 2020, which also has an impact on Operating Profits. Collection from Students and New Centre signups have been adversely impacted until the Lockdown period and would continue to be impacted till classes are allowed to be resumed."

Going forward, Aptech said, "We believe digital training, assessment and payments are trends which will solidify even more in times ahead. Our endeavours in this regard will enhance our business and open new market segments. We will work with our business partners, students and institutional clients to capitalise on these trends."

Further, the company added, "These are trying times and we will continue to do our best, first to keep our students and employees safe. We believe that the job enablement training will continue to be required as people look to skill and reskill themselves in line with the emerging scenarios."

At around 12.02 pm, Aptech stock price was trading at Rs95.45  per piece down by 2% on Sensex. The stock has plunged by nearly 3% with an intraday low of Rs94.40 per piece on the index.

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