Press Releases
Saturday
October 26, 2002
Rolta Q3 Net Profit at Rs. 20.42 Crores
Mumbai, 26 October 2002: Rolta India Limited, India's premier CAD/CAM/GIS solutions and services provider, has announced un-audited results for its third quarter of the financial year 2002. Total income for the quarter ended September 2002 is Rs. 60.28 Crores against a total income of Rs. 70.61 Crores during the corresponding quarter of the previous year. The net profit for the third quarter is Rs. 20.42 Crores against the net profit of Rs. 30.02 Crores during the third quarter of the last financial year.
The total income for the first nine months of 2002 works out to Rs. 210.96 Crores as compared to the total income of Rs. 227.84 Crores during the corresponding period of last year. Net profit for the first nine-months of 2002 is Rs. 76.75 Crores as against Rs. 89.95 Crores in the first nine months of 2001. Nevertheless, the cash profits for this nine months period is only marginally lower by Rs. 2.65 Crores as compared to the cash profits of the corresponding period of 2001. The Company has been able to sustain good profitability in spite of squeeze on pricing and pressure on topline. Net profit for the period is lower mainly on account of enhanced provisions made for depreciation and taxation.
The Earning Per Share (EPS) based on the first nine-months results works out to Rs. 12.05, which on an annualized basis translates to Rs. 16.06. The Cash Earnings Per Share (CEPS) works out to Rs. 18.26, which on an annualized basis comes to Rs. 24.35.
The slowdown that had affected the world market and economies in 2001 still persists. The current economic climate has not shown much of a change since last year and global markets remain sluggish with a cascading effect on the domestic market. In this tough economic environment the company continues to focus on its core competencies.
Rolta has been ranked by Forbes Global, for the second year in a row, amongst the 200 Best Companies in the World (having sales of less than US $ 1 Billion). This ranking reaffirms the company's position as a leading global provider of IT services and solutions. Forbes Global raised the bar for inclusion in the list from US $ 500 Million (annual sales) in 2001 to US $ 1 Billion in 2002. To put together the list, Forbes Global began with a universe of 20,000 publicly quoted companies with revenues of less than US $ 1 Billion. In order to arrive at the final 200, the companies were scrutinized on the basis of their profitability, earnings and sales growth.
Rolta has recently launched Internet Telephony, that combines premium dedicated internet bandwidth and international calling facilities to ensure that users get voice grade connectivity, while using standard telephony infrastructure, at a quarter of comparable telephony rates. The company also launched a complete range of Linux-based security and messaging products, developed in-house, for corporate networks.
Company Background: Rolta is an Indian multinational organization well equipped to provide knowledge-based software & IT-enabled services to customers across the world. By judiciously combining resources from worldwide facilities, Rolta is able to meet customer needs cost- effectively. Since 1982, Rolta has been a pioneer in computer graphics, mapping and engineering software. The company has consistently been ranked as India's #1 CAD/CAM/GIS solution provider and is considered amongst the top Geo-Engineering software conversion service vendors worldwide. Rolta offers end-to-end solutions and services for Geo-engineering, Plant Design Automation, Mechanical Design Automation and Product Lifecycle Management. The company also offers value added solutions and services for Enterprise Application Integration (EAI) that includes integrating & web-enabling Engineering & Business applications, Smart Cards, eSecurity and Data-Warehousing/Mining.
For additional information
Mr.V L Ganesh
Director-Finance & Chief Financial Officer
Rolta India Limited
Telephone: 832 6666 / 826 2222 Extn: 1501
E-mail: vlganesh@rolta.com
www.rolta.com
