Press Releases
Wednesday
April 30, 2003
Rolta Fifth Quarter (March 2003) Net Profit at Rs. 15.48 Crores
Mumbai, APRIL 30, 2003: Rolta India Limited, India's premier CAD/CAM/GIS solutions and services provider, has announced un-audited results for the quarter ended March 31, 2003. Total income for the quarter is Rs. 51.82 crores against a total income of Rs. 51.69 crores during the immediate previous quarter ended on December 31, 2002. The net profit for the quarter ended March 31, 2003 is Rs. 15.48 crores against a net profit of Rs 15.61 crores during the last quarter of 2002.
The current accounting year of the company is for a period of eighteen months from January 1, 2002 to June 30, 2003. The total income for the fifteen months of accounting year 2002-03 works out to Rs. 314.47 crores, while net profit for the five quarters of 2002-03 is Rs. 107.83 crores. The cash profit for the fifteen months period ended March 31, 2003 is Rs. 175.11 Crores.
In order to broadbase the Board and to implement the restructuring process the company has expanded its Board of Directors by inducting Lt. Gen J.S.Dhillon (Retd) as an independent Director. Lt. General Dhillon had a meritorious career of over thirty years in the Indian Armed Forces having served in various senior capacities. Simultaneously to give more focus to the Strategic Business Groups (SBGs) concept being implemented by the company, two senior executives of the company, Mr.S.K.Shirguppi and Dr. S.R Bhot, have been elevated as whole time Directors of the company.
The Company has been able to sustain its profitability in spite of squeeze on pricing and pressure on top line due to various initiatives being undertaken by the Company. The Company has moved ahead and is implementing the concept of Strategic Business Groups (SBGs) in the organization. This will enable the Company to exploit its various experiences and strengths in a much better fashion. Currently, the company is creating three SBGs viz: GeoEngineering/GIS Business Group headed by Mr. Aloke Chakrabarti, Engineering Design Automation Business Group headed by Mr. S.K. Shirguppi, and eSolutions Business Group headed by Dr.S.R.Bhot. Each SBG is being so formed that allied revenue streams will be organized together.
CFO Asia, a leading finance magazine published by The Economist Group, in its recent survey on Asia's best Annual Reports has ranked Rolta India's last annual report amongst the first 25 in Asia and at the 2nd position among select Indian companies. The basis for ranking was the depth and transparency of the Annual Reports of the companies.
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. Forbes Global has ranked Rolta for the second year in a row, amongst the 200 Best Companies in the World (having sales of less than US $ 1 Billion). Rolta has also been placed on the First 250 list of the by Deloitte Touche Tohmatsu Asia-Pacific Technology Fast 500 program.
For additional information
Mr.V L Ganesh
Director-Finance & Chief Financial Officer
Rolta India Limited
Telephone: 2832 6666 / 2826 2222 Extn: 1501
E-mail: vlganesh@rolta.com
www.rolta.com
