Aptech to spend upto Rs 65 crore for share buyback

14 May 2013

Aptech would be buying back it’s shares at a maximum price of Rs 82 per share, which translates into  premium of 40.41% from its current market price of Rs 58.40 per share (Previous close on BSE). The company would buyback its equity shares from the open market up to 25% of the capital and free reserve of the company as per the audited accounts as on March 31, 2013 and in total would be spending upto Rs 64.66 crore for this. The company’s board of directors at their meeting held on May 13, 2013, decided the same. The board also recommended a dividend of Rs 2.5 per share.

The company, which currently has Rs 120 crore cash on books, is a debt free company. It reported 86.17% rise in its net profit for quarter ended March 2013 at Rs 13.87 crore as against Rs 7.45 crore during the previous quarter ended March 2012. It’s income from operations rose 45.58% to Rs 33.25 crore in the quarter ended March 2013 as against Rs 22.84 crore during the previous quarter ended March 2012. For the Audited full year, net profit rose 38.85% to Rs 25.27 crore in the year ended March 2013 as against Rs 18.20 crore during the previous year ended March 2012.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323