Press Releases
Friday
April 30, 2004
Rolta announces impressive Q3 Results. 57% jump in Revenue and 37% jump in Net Profit
Mumbai, April 30, 2004:Rolta India Limited, India's leading CAD/CAM/GIS solutions and services provider, announced impressive unaudited results for the quarter ended March 31, 2004. The total income for the quarter was Rs. 81.14 Crores reflecting a growth of 56.6 % over comparable income of Rs. 51.82 Crores for the corresponding quarter in the previous year. The net profit after depreciation and tax for this quarter was Rs. 21.19 Crores against a net profit of Rs. 15.48 Crores during the same quarter of the previous year, representing a growth of 36.9%. The earning per share (EPS) for the quarter was Rs. 3.3 as compared to Rs. 2.4 for the corresponding period last year.
The total income for the nine-month period ended March 31, 2004 was Rs. 208.42 Crores, an increase of 27.3% over the comparable income of Rs. 163.79 Crores for the corresponding nine-month period of the previous year. The Net Profit after tax for the period of nine months ended March 31, 2004 was Rs. 63.69 Crores against Rs. 51.51 Crores for the corresponding period last year, reflecting a growth of 23.6%.
In the GeoEngineering/GIS segment, the Company has received major export orders from British Telecom, UK, Verizon, USA and from UAE, which are being executed from its state of the art facilities in Mumbai. Even in the domestic market, the Company has received large orders from the Defense and Telecom sectors, reinforcing its standing as the #1 provider of GeoEngineering/GIS solutions, in India. The current order book position of the company stands at over Rs. 200 Crores.
Rolta and Stone & Webster have moved ahead and converted the MoU between the two companies, into an agreement to establish a Joint Venture company in India. This venture has already started high-end engineering projects, using cutting edge technology for Stone & Webster's global operations and will pursue large projects in India for establishing refinery and power plants on a turnkey basis. In addition, The Dow Chemical Company, USA, has entered into an Agreement with Rolta as a preferred partner for providing extensive Engineering and IT Services to support their global projects. The Company expects significant potential from this partnership. In the domestic market, the company continues to maintain its leading position as the #1 provider of high-end plant design solutions to the Indian market.
The Company's export thrust in eSolutions and eSecurity is progressing at a good pace with multifaceted projects being executed for large customers such as Cingular, Sodexho, EDS/MediCal, 21st Century Insurance Co, Fidelity Investments, Comcast IP, Verizon and many others, in partnership with world-leading Companies like Computer Associates (CA). The domestic market is also seeing a good absorption of this expertise e.g. Rolta recently carried out a multi-location implementation on eSecurity for CA's end-customer - TCS. The Company's software development practices have been assessed at SEI-CMM Level 4 by KPMG, which are expected to move up to Level 5, shortly.
Company Background: Rolta is an Indian multinational organization well equipped to provide knowledge-based Mapping, Engineering, 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 Engineering/Automation, Mechanical Design Automation and Product Lifecycle Management. The company also offers value added solutions and services for Enterprise Application Integration that includes integrating & web-enabling Engineering & Business applications, Smart Cards, eSecurity & Data-Warehousing/Mining. Forbes Global has ranked Rolta, for the 3rd year in a row, amongst the 200 Best Companies in the World (having sales up to US $ 1 Billion) - only eighteen companies worldwide have scored this hat trick.
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
