January 31, 2008
Rolta's Consolidated Net Profit grows 47.1 % Y-o-Y & 11.9 % Q-o-Q
Mumbai, January 31, 2008 : Rolta India Limited, one of India's leading IT companies, specializing in GIS/Geospatial Information Systems, Engineering Design and Enterprise Information & Communication Technology, today announced unaudited financial results for the second quarter ended December '31, 2007.
- Consolidated Income for the quarter was at Rs. 2,519.45 mn (USD 63.88 mn) as against Rs. 1,704.10 mn (USD 38.49 mn) in the corresponding quarter of the previous year, a year-on-year (y-o-y) growth of 47.8 % and sequential growth (Q-o-Q) of 9.2 %.
- Consolidated Profit After Tax for the quarter ended December 31, 2007 has shown a robust y-o-y growth of 47.1% to Rs. 602.17 mn (USD 15.27 mn), as against Rs. 409.39 mn (USD 9.25 mn) in the corresponding quarter of the previous year. Consolidated Profit After Tax increased at 11.9 % Q-o-Q.
- Consolidated Earnings Per Share for the quarter ended December 31, 2007 was Rs. 3.76 (USD 0.10), as against Rs. 2.56 (USD 0.06) in the corresponding quarter in the previous year.
- GIS/Geospatial Information Systems
During the quarter, the company bagged certain prestigious orders from North American Telecom and European Utility majors on account of its strong track record and service ability.
Further, as a move to exploit organisational synergies for achieving accelerated growth, a team in India was established to supplement product development for Orion, its subsidiary in Canada. With continued success in the market, development in India will help Orion to shorten delivery time and enhance margins from the new products and releases.
Rolta Thales Limited (RTL), the Company's joint venture with Thales, France, has made significant progress. With the inauguration of its "Battle Lab", RTL has added a unique capability in India for showcasing operational analysis and simulation of military doctrines.
- Engineering Design
Engineering Design and Automation Division experienced robust growth during the quarter under review. Besides, the Division bagged repeat orders from existing domestic and overseas clients (including a large European EPC) on account of efficient execution of orders in hand.
Stone & Webster Rolta Limited (SWRL) continued to achieve healthy growth. This growth resulted by delivering considerable value to various projects, through its world-class infrastructure, highly qualified technical expertise and best practices. During the quarter, SWRL successfully commenced work on a prestigious multi-year engineering & procurement project from Exxon Mobil.
- Enterprise Information & Communication Technology
The division continued to deliver sustained growth through its network security and service management practices during the quarter review.
The company completed the acquisition of TUSC, a reputed expert in ERP, Business Intelligence, and Oracle technologies. This acquisition is expected to be accretive to shareholder value in the current financial year. TUSC and Rolta synergies at numerous levels - from addressing mutual clients with additional services to leveraging Rolta's off-shore experience and cost-efficiency - is expected to widen market segment for the company's services.
- Human Resources
The Company added more than 300 employees during the quarter, taking the total headcount to 4500 + employees.
As an initiative to strengthen its intellectual capital, the company set up Rolta Academy in September, 2007. The move was aimed at enlarging company's pool of technical professionals by inducting fresh and experienced professionals and training them on the state-of-the-art technology and software tools. During the quarter under review, the first batch consisting of 252 recruits, was inducted and absorbed within the company post the completion of the training programme.
Rolta is an Indian multinational organization that has executed projects in over 35 countries. Rolta is a leading provider and developer of Information Technology based Geospatial Information Systems (GIS), Engineering Design Services, Software Development, Advanced Security, Network Management, ERP Consulting and Deployment services worldwide. Rolta, through its joint venture Stone & Webster Rolta Ltd., provides comprehensive Engineering, Procurement and Construction Management (EPCM) services to meet turnkey project requirements of power, oil, gas and petrochemical sectors. Rolta's joint venture with Thales, France, leverages a broad spectrum of cutting-edge technologies, systems and solutions from Thales, and Rolta's leadership position in the Indian market. This JV takes advantage of the technology transfer from Thales for developing state-of-the-art C4ISTAR information systems, for domestic and international markets. Rolta has acquired Orion technology Inc. a Canadian software and integration company specializing in enterprise Web GIS Solution. Rolta, headquartered in Mumbai, employs 4500+ professionals with countrywide infrastructure and international subsidiaries across the globe and is today a strong player in the Infrastructure, Defence, Homeland Security and Enterprise Information & Communication Technology (ICT) markets. Forbes ranked Rolta as one of "Asia's Best 200 Under a Billion" for the fourth time in the last six years. The Company is listed on the NSE in cash and F&O segment and forms part of CNX IT, NIFTY Midcap 50 and CNX 500 indices. The company is also listed on BSE 'A' group and forms part of BSE Midcap, BSE 200, BSE 500, BSE IT and BSE TECK indices. The Company's GDR is listed on the Main Board of London Stock Exchange and its FCCB's are listed on the Singapore Stock Exchange.
For additional information
Rolta India Limited
Mr. Hiranya Ashar,
Director - Finance & Chief Financial Officer
Telephone: 91-22-2821 3052
This press release includes statements that are not historical in nature and that may be characterized as "forward-looking statements," including those related to future financial and operating results, benefits and synergies of the company's brands and strategies, future opportunities and the growth of the market for open source solutions. You should be aware that Rolta's actual results could differ materially from those contained in the forward-looking statements, which are based on current expectations of Rolta management and are subject to a number of risks and uncertainties, including, but not limited to, Rolta's ability to integrate acquired operations and employees, Rolta's success in executing its strategies, Rolta's ability to take a competitive position in the industry, business conditions and the general economy, market opportunities, potential new business strategies, competitive factors, sales and marketing execution, shifts in technologies or market demand, and any other factors. We may make additional written and oral forward-looking statements but do not undertake, and disclaim any obligation, to update them.