Press Releases
Saturday
January 31, 2004
Rolta announces 29 % jump in Net Profit, Declares Impressive Q2 results
Mumbai, January 31, 2004: Rolta India Limited, India's premier CAD/CAM/GIS solutions and services provider, announced impressive unaudited results for the quarter ended December 31, 2003. The total income for the quarter was Rs. 62.06 Crores reflecting a growth of 20.1 % over comparable income of Rs.51.69 Crores for the corresponding quarter in the previous year. The net profit after depreciation and tax for this quarter was Rs. 20.11 crores against a net profit of Rs. 15.61 Crores during the same quarter of the previous year, representing a growth of 28.8 %. The earning per share (EPS) for the quarter was Rs. 3.2 as compared to Rs. 2.5 for the corresponding period last year. The improved profitability of the Company is mainly due to the all-round reduction in various costs and increased revenue.
The total income for the half-year ended December 31, 2003 was Rs. 127.28 Crores an increase of 13.7 % over the comparable income of Rs. 111.97 Crores for the corresponding half-year in the previous year. The Net Profit after tax for the half-year ended December 31, 2003 was Rs. 42.50 crores against Rs. 36.03 crores in the corresponding period last year reflecting a growth of 18.0 %.
Rolta's order book position continues to be encouraging with major orders received from domestic customers and overseas clientele for high-end Geospatial, Plant Design and eBusiness solutions. The Company expects to complete the execution of large portion of these orders within the span of the next six months.
In line with Rolta's philosophy to include high caliber professionals with leadership quality and strategic insight and also with a view to broad base the Board, the Company has inducted Mr. A T Pannir Selvam former Chairman & Managing Director of Union Bank of India as an independent Director. Mr Pannir Selvam has a vast experience of over 35 years in Banking, Finance and Corporate Management. The Company has also inducted Mr. Aditya K Singh, as Director. Mr. Aditya K Singh with his wide experience in the fields of Sales, Marketing and Administration shall bring increased dynamism to the Board.
In a recent survey of Indian IT's Best Employers 2003, undertaken by Dataquest-IDC, Rolta has been ranked No. 6 overall, for its healthy employee satisfaction levels. Continuing its strong HR practices, the Company has also recently allotted 911,500 options to 354 Roltaites in the managerial cadre including those of the Company's overseas subsidiaries under the Company's Employees' Stock Option Plan (ESOP).
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 third year in a row, amongst the 200 Best Companies in the World (sales up to US$ 1 Billion).
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
