Press Releases
Wednesday
April 14, 2010
Rolta’s Q3 FY-10 Consolidated Revenue Grows 5.1% Q-o-Q and Net Profit grows 6.9% Q-o-Q
Mumbai – Rolta India Limited, one of India's leading IT companies, specializing in Enterprise Geospatial Information Solutions, Defense, Homeland Security (EGIS), Enterprise Design & Operation Solutions (EDOS), and Enterprise IT Solutions (EITS), today announced unaudited financial results for the quarter ended March 31, 2010.
FINANCIAL HIGHLIGHTS- Consolidated Revenue for Q3 FY-10 at Rs. 394.56 crores (Rs. 3945.6 Million) against Rs.375.56 crores (Rs.3755.6 Million) in Q2 FY-10, registering a Q-o-Q growth of 5.1%.
- Consolidated EBITDA for Q3 FY-10 at Rs. 149.16 crores (Rs. 1491.6 Million) against Rs. 142.27 crores (Rs. 1422.7 Million) in Q2 FY-10, registering a Q-o-Q growth of 4.8%.
- Consolidated Net Profit for Q3 FY-10 at Rs. 67.10 crores (Rs.671.0 Million) against Rs. 62.79 crores (Rs. 627.9 Million) in Q2 FY-10, registering a Q-o-Q growth of 6.9%.
- Consolidated Revenue for Q3 FY-10 at Rs. 394.56 crores (Rs. 3945.6 Million) against Rs.332.03 crores (Rs.3320.3 Million) in Q3 FY-09, registering a Y-o-Y growth of 18.8%, Consolidated EBITDA for Q3 FY-10 at Rs. 149.16 crores (Rs. 1491.6 Million) against Rs. 106.48 crores (Rs. 1064.8 Million) in Q3 FY-09, registering a Y-o-Y growth of 40.1%. Consolidated Net Profit for Q3 FY-10 at Rs. 67.10 crores (Rs.671.0 Million) against Rs. 49.13 crores (Rs. 491.3 Million, before exceptional item of Rs.840.1 Million in the previous year) in Q3 FY-09, registering a Y-o-Y growth of 36.6%.
Commenting on the results,Mr. K. K. Singh, Chairman and Managing Director, said: "We are seeing increased confidence in the market place. With our specialized offerings based on Rolta IPR, we are very well placed to address customer requirements and continue on our growth path."
Corporate Highlights:The Company had announced the launch of its solutions approach, built around its own intellectual property (“IP”), earlier this year. The new approach was aimed at offering differentiated solutions at the high-end of the value chain, encompassing enterprise-level decision support systems for selected vertical segments. Our offerings have been received well in the marketplace in India and globally. The solutions incorporate the Company’s own IP as licensed components, and therefore result in improved margins and annuity revenue potential. While the Company continues to provide services, the portfolio of services is now more sophisticated and commands higher margins.
The Company has deepened its domain expertise in selected verticals through induction of subject-matter experts. To effectively develop, sell and support innovative solutions, the Company continues to hire experienced management and highly-skilled technical staff. This is especially true of the product development division where continuous innovation and development of new solutions is driving our growth plans.
OPERATIONAL HIGHLIGHTS:Enterprise Geospatial Information Solutions (EGIS)
During the quarter, the Company won and executed contracts for deploying ROLTA Geospatial FusionTM, its unique solution for enabling fusion of various disparate geospatial and non-spatial databases and software applications. For example, the project for an Electric Utility company in India was successfully implemented. Rolta continues to win orders in other markets in North America, the Middle East and Africa for these solutions.
During the quarter, the Company won and executed contracts for deploying ROLTA Geospatial Fusion™, its unique solution for enabling fusion of various disparate geospatial and non-spatial databases and software applications. For example, after completing a project for an electric utility company in India, a prestigious project for an economic development agency in Canada was successfully implemented. Rolta continues to win orders in varied vertical segments in markets in North America, the Middle East and Africa for these solutions.
The Company recently completed the acquisition of OneGIS, a company that specializes in high-end consulting and thereby considerably strengthened its capabilities in the areas of Electric Utilities, Telecom, Water and Gas. Further the team adds significant technical capability across most Utilities and asset management related software platforms such as ESRI, Telecordia, Televent, Miner-Miner and CityWorks. This acquisition also added OneView Mobile to the Company’s portfolio of IP. This proven mobile product is deployed at several large utilities and Telcos.
The Company continually upgraded and enhanced its software solutions for Earth Science applications that are running at multiple customer sites. Rolta Earth Science solutions provide some of the most advanced Geo-Imaging and Photogrammetry capabilities. These advanced and user friendly technologies seamlessly integrate with the extensive repository of Rolta Geospatial solutions and are complementary to leading GIS platforms.
In the Defense, Homeland and Maritime Security segment, the Company continues to innovate and provide sophisticated mission-critical solutions that provide a force-multiplier and enable Armed Forces and Security Agencies to more effectively carry out their operations. For example, in the last quarter, the Company launched sensor data integration, data fusion and visualization solutions that seamlessly integrate with Command and Control solutions, for the Homeland and Maritime Security Markets. With its leadership position in India, strong partnerships like the JV with Thales – Rolta Thales Limited -- and a comprehensive portfolio of state-of-the-art solutions, the Company is continuing to further expand and strengthen its dominant position in the Defense, Homeland and Maritime Security market.
Enterprise Design & Operations Solutions (EDOS)The Rolta OneViewTM solution, launched recently, is being deployed at additional large refining facilities in USA, Europe and South Africa. It has also been well received in other markets, such as in the middle-east and India. In addition to “reliability” related KPIs that the solution currently monitors, the Company is working on extending Rolta OneView™ to cover additional functional areas such as “Health, Safety & Environment” and “Operational Excellence”. In fact, the Company has successfully completed a proof of concept for the “Cost Control” module, and is poised to deploy this at various sites of an existing customer. The Company is building solution frameworks for other verticals, such as Power and Chemicals.
The Company has seen signs of turn-around in capex cycles and has received major orders for sophisticated engineering services from organizations in diverse sectors including nuclear power, space research and oil refining. These are not only significant in size, but also in areas of expertise that would elevate our track record to the next level. Shaw Rolta Ltd., the Company’s JV with The Shaw Group, USA continues to make steady progress and is executing prestigious projects for customers worldwide.
Enterprise Information Technology Solutions (EITS)Rolta continues to strengthen and develop its IP. During the quarter, the Company inducted world-class talent, including at the executive management level in India. The division is focused on developing and upgrading the Company’s IP to enhance the value proposition to our customers, and strengthen our standing in the market by offering unique technological approaches. The Company has a strong portfolio of capabilities to also address various high-value service needs like Business Intelligence, Enterprise Performance Management, Core Database Foundation, as well as Data Security and Service Management. Rolta Solutions and middleware tools provide a common thread between its lines of business, and enable the Company to leverage synergies between business units.
About Rolta:
Rolta is an Indian multinational organization that has executed projects in over 40 countries. Rolta serves these markets by providing innovative solutions in Enterprise Geospatial Information Solutions (EGIS), Defense & Homeland Security; Enterprise Design & Operations Solutions (EDOS); and Enterprise Information Technology Solutions (EITS). Rolta, through its joint venture with the Shaw Group Inc. USA – Shaw 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 – Rolta Thales Ltd., develops and provides state-of-the-art C4ISTAR information systems, Military Communications, Digital Soldier and Vehicle System solutions, covering the entire “sensor to shooter” chain, under transfer of technology from Thales. Rolta, headquartered in Mumbai, employs over 4500 professionals with countrywide infrastructure and international subsidiaries across the globe. The Company has benchmarked its quality processes with the world's best quality standards. Rolta is accredited with the prestigious BSI ISO/IEC 27001:2005 certification, the ultimate benchmark for information security; the BSI ISO/IEC 20000-1:2005 IT Service Management Standard; and the Company has been assessed at Maturity Level 5 of the Capability Maturity Model Integrated CMMI SW version 1.1 in 2006. The Company is now engaged in upgrading to Maturity Level 5 of version 1.2. Forbes Global has ranked Rolta amongst the "Best 200 under a Billion" for four times in six years. Rolta has been included in the S&P Global Challengers ListTM 2008, by Standard & Poor’s. This List identifies 300 mid-size companies worldwide that have shown the highest growth characteristics along dimensions encompassing intrinsic and extrinsic growth. ROLTA was ranked at the #1 position in Human Relations (HR), and at the 3rd position in overall ranking in the 2009 DATAQUEST survey of Best Employers in the IT sector. 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
Hiranya Ashar,
Director Finance & CFO
Email: hiranya.ashar@rolta.com
Telephone: +91 (22) 2926 6666
A. P. Singh,
Joint Managing Director
Email: ap.singh@rolta.com
Telephone: +91 (22) 2926 6666
Ben Eazzetta,
President, International Operations
Email: Ben.Eazzetta@roltaus.com
Telephone: +1 (678) 942 5000
Disclaimer: 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.
