Aptech rose 2.22% to Rs 345 after the company entered into a multi-year Memorandum of Understanding on 14 November 2022 (MoU) with an autonomous education body under Ministry of Education, Government of India.
Aptech will conduct computer-based tests for the territory of India as per the scope of services in accordance with the MoU. The work is to be carried out in three phases namely: pre-examination phase, test delivery phase and post examination phase.The deal is estimated to generate revenue of over Rs 50 crore, subject to satisfactory milestone-based deliverables to said body.
Aptech is primarily engaged in the business of education training and assessment solution services. Its consolidated net profit surged 19.8% to Rs 13.55 crore on 209.4% jump in revenue from operations to Rs 105 crore in Q2 FY23 over Q2 FY22.
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