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Aptech gains after receiving large dividend from Chinese venture

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Aptech spurted 3.36% at Rs. 107.80 at 12:23 IST on BSE after the company's wholly owned subsidiary received dividend of $7,229,983, equivalent to Rs. 32.65 crore from its Chinese venture. The company made the announcement after market hours on Monday, 21 February 2011 Meanwhile, the BSE Sensex was down 17.96 points, or 0.10%, to 18,420.35 On BSE, 3.31 lakh shares were traded in the counter as against an average daily volume of 2.02 lakh shares in the past one quarter. The stock hit a high of Rs. 110.40 and a low of Rs. 103.70 so far during the day. The stock had hit a 52-week high of Rs. 185 on 8 April 2010 and a 52-week low of Rs. 81.35 on 10 February 2011. The stock had underperformed the market over the past one month till 21 February 2011, falling 14.89% compared with the Sensex's 2.99% decline. The scrip also underperformed the market in past one quarter, sliding 26.73% as against 5.86% fall in the Sensex. The small-cap IT education provider has an equity capital of Rs. 48.76 crore. Face value per share is Rs. 10. On a consolidated basis, Aptech's net profit fell 38.94% to Rs. 3.34 crore on 12.68% decline in net sales to Rs. 47.11 crore in Q3 December 2010 over Q2 September 2010.

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