Press Releases

Thursday
April 17, 2008

Rolta's Consolidated Revenue grows 55.4% and Net Profit grows 44.3 % Y-o-Y

Mumbai, April 17, 2008 : Rolta India Limited, one of India's leading IT companies, specializing in GeoSpatial Information Systems (GIS), Engineering Design Automation (EDA) and Enterprise Information and Communication Technology (EICT), today announced unaudited financial results for the third quarter ended March 31, 2008.

Financial Highlights

Consolidated Revenue for the quarter increased to Rs. 2,883.7 mn (USD 72.2 mn) as against Rs. 1,855.9 million (USD 42.7 Million) in corresponding quarter of the previous year, a year-on-year growth of 55.4% and quarter-on-quarter (Q-o-Q) growth of 19.3%.
Consolidated Profit After Tax for the quarter ended March 31, 2008 has shown a robust year-on-year (y-o-y) growth of 44.3 % to Rs. 657.2 mn (USD 16.5 mn), as against Rs. 455.4 mn (USD 10.5 Million) in the corresponding quarter of the previous year, and Q-o-Q growth of 9.1%.
Consolidated Basic Earnings Per Share adjusted for the issue of Bonus Shares at 1:1 in January 08, was Rs. 4.1 (USD 0.10) for the quarter ended March 31, 2008 as against Rs. 2.8 (USD 0.07) in the corresponding quarter last year.

Operational Highlights

The Company continued to strengthen its operations to sustain its rapid growth and to prepare itself for a larger scale of operations. Towards this end, the Company appointed Ms. Preetha Pulusani as a Joint Managing Director and a member of the Board, based in Mumbai. She brings extensive first-hand experience specifically in GIS and EICT to the Company, having served in the US as the President of Intergraph’s GIS and Mapping business unit, and also as the CEO of Adeptmedia Corporation. Rolta also appointed Mr. Karl Seil as Director of the Engineering to head the business unit in Mumbai. He was formerly in the US with Bechtel for 22 years, and then with Stone & Webster as Director Engineering and Worley Parsons as VP of Operations and Engineering. The Company established a subsidiary in Sydney, Australia and appointed Mr. Dinesh Desilva as the President. The Company has similarly added senior management staff in various divisions and global subsidiaries to boost our sales, marketing and delivery capabilities.

The Rolta Academy, established as a captive facility to train entry-level employees in a structured manner, has proven to be a very successful initiative. During the quarter over 300 technical professionals were inducted in various disciplines raising the total employee strength of the Company to about 5000.

The Company’s internal operations are being strengthened by implementing a comprehensive ERP solution that covers all business units worldwide. The first phase of the implementation was successfully completed during the quarter. This provides a robust foundation for the rapidly increasing scale of operations, and for efficiently integrating operations of acquisitions with those of the Company.

In the GeoSpatial Information Systems (GIS) segment, the Company won large orders from nodal agencies and power distribution companies in India. The Company continues to win and execute defense contracts. In the International markets, the company has been awarded large contracts by telecom and utility majors. Rolta continues to make inroads into newer segments of GIS with innovative deployment of our OnPoint technologies.

Rolta Thales Limited (RTL) the company’s Joint Venture with Thales has made significant progress in introducing various new technologies to the Indian Defence segment.

The Company has won large orders for services and solutions in the Engineering Design segment from a number of Indian owner-operators and EPCs in the petroleum, refining and power segments. On the international front, Rolta continues to execute large engineering design projects. New business won during the quarter includes projects in the Middle East and add-on business for detail design and engineering analysis from clients in Europe and North America. During the quarter, the company also won several contracts for ship design services from large European shipyards.

Stone & Webster Rolta Limited (SWRL) the joint venture company continues to report steady growth with several large projects from petrochemical companies and large refineries apart from providing engineering design services for global projects of Stone & Webster. The company is currently executing a prestigious multi year engineering design and procurement project from the global major Exxon Mobil.

Rolta continued to make rapid strides in growing its e-security and network management business in partnership with CA. Similarly, Rolta’s Oracle technology and applications business has shown significant growth. The Company has booked new business in all geographical regions worldwide, including multi-million dollar orders.

The Company acquired TUSC, the “Oracle technology experts” based in Chicago. Integration of this company into Rolta’s mainstream operations is well underway. Acquisition of TUSC has given an impetus to building a strong portfolio of products, technology and high-end services, and has resulted in a quantum jump in consolidated EICT business. This has given the Company the ability to offer wider and higher-value services in our GIS and Engineering segments, while concurrently improving the Company’s access to complementary markets and industry segments. Rolta is now expanding its portfolio of services to offer enterprise level solutions, especially to the engineering and GIS users.

About Rolta:

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 and TUSC, an IT Consulting company specializing in ERP applications as well as database and business intelligence solutions, based on Oracle technologies. Rolta, headquartered in Mumbai, employs about 5000 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. A. P. Singh,
Joint Managing Director
Telephone: +91 (22) 2832 6666

Mr. Hiranya Ashar,
Director - Finance & Chief Financial Officer
Telephone: +91 (22) 2832 6666