Aptech posts Rs 7.27 cr loss in Q4

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Aptech Ltd registered a consolidated loss of Rs 7.27 crore in Q4.The company had posted a net profit of Rs 4.71 crore in the January-March 2019 quarter.
registered a consolidated loss of Rs 7.27 crore in Q4

New Delhi, May 25 (PTI) Aptech Ltd on Monday said it has registered a consolidated loss of Rs 7.27 crore in March 2020 quarter.

The company had posted a net profit of Rs 4.71 crore in the January-March 2019 quarter, Aptech said in a regulatory filing.

Its revenue from operations declined to Rs 39.9 crore in the quarter under review from Rs 63.27 crore in the year-ago period, it added.

Retail segment accounted for Rs 29.56 crore of the quarter’s revenue, while institutional segment revenue was at Rs 10.33 crore.

Aptech said consequent to the COVID-19 pandemic, Vietnam (one of its top international markets) as well as other countries announced lockdowns.

In India, classes in different geographies started shutting from the second week of March. All centres have suspended classes as it awaits clear directives from the Centre and state governments, it said.

The company said it has initiated various measures to enhance its resilience, including remote delivery, online counseling, digital marketing and encouraging digital payments.

“Many of the challenges faced during the lockdown are likely to continue even as the economy gradually opens after the lockdown. The full extent to which the pandemic will impact our future financial results will depend upon upcoming developments, which are highly uncertain, including any new information concerning the severity of the pandemic and the actions to mitigate its spread,” Aptech said.

The firm believes that the job enablement training will continue to be required as people look to skill and reskill themselves in line with the emerging scenarios, it added.

Source; PTI

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