Rolta's Q3-FY-16 Consolidated PAT Grows 10.8% Q-o-Q
MUMBAI, India, Feb. 12, 2016 — (PRNewswire) —
Rolta India Limited (Rolta), a leading provider of innovative IP-led IT solutions for many vertical segments, including Defence/HLS, today announced unaudited financial results for quarter ended December 31, 2015 (Q3 FY -16).
- Consolidated Revenue for Q3 FY-16 at Rs. 980.56 cr (Rs. 9.81 Billion) against Rs. 989.59 cr (Rs. 9.90 Billion) in Q2 FY-16, registering a marginal decline of 0.9% Q-o-Q.
- Consolidated EBITDA for Q3 FY-16 at Rs. 320.43 cr (Rs. 3.20 Billion) against Rs. 323.22 cr (Rs. 3.23 Billion) in Q2 FY-16, registering a marginal decline of 0.9% Q-o-Q.
- Consolidated profit after tax for Q3 FY-16 at Rs. 46.87 cr (Rs. 0.47 Billion) against Rs. 42.31 (Rs. 0.42 Billion) in Q2 FY-16, registering a growth of 10.8% Q-o-Q.
Mr. K. K. Singh, Chairman and CEO said, "Rolta continues to build momentum for its IP-led solutions in all geographies and verticals. This is helping the Company to forge long-term relationships with its customers, and to create new opportunities with innovative solutions that deliver significant value and returns to its clients."
Rolta's pursuit of product innovation continues unabated through ongoing investments in R & D, with all its major product suites undergoing enhancements with new modules, features and functionality. This ensures that Rolta's offerings continue to remain differentiated and provide best-in class solutions for its clients globally. As a result, Rolta has not only retained its competitive edge, but has also opened new opportunities.
Rolta was recently selected as 'The Global Geospatial Solutions Company of the Year.' This global recognition by an eminent international jury for a leading media house dedicated to geospatial technologies clearly vindicates the Company's business strategy of providing IP led solutions by integrating and aligning its geospatial expertise with Data Science, IT and Engineering to unleash the power of location and geospatial information.
To provide greater autonomy and operational efficiency to the Company's Defence Technology business, Rolta has successfully transferred its Defence Technology businesses to wholly owned subsidiaries for a sum of about Rs. 2,024 Cr. This will provide significant impetus to the Company's planned growth and expansion in these areas.
Mr. Hiranya Ashar, Joint Managing Director, International Operations & Group Chief Financial Officer (CFO) has resigned to pursue other interests. The Board has accepted his resignation. The Company appreciates Mr. Ashar's contributions and wishes him all the best in his future endeavours. Ms. Preetha Pulusani, currently holding the charge of operations across Americas as President, will now be responsible for the entire International operations of the Company. She will continue to serve as a Member of the Board.
The Board also approved the appointment of Mr. Ramakrishna Prabhu as CFO. He joined Rolta on 14thDecember 2015 as Sr. VP for Finance and is a member of the Institute of Chartered Accountants of India. He has over 29 years of experience in all aspects of Accounting and Finance Management and was a senior partner at M/s. K S Aiyar & Co., Chartered Accountants. Before joining Rolta, he was associated with M/s. Hindustan Construction Company Limited as Chief Financial Officer (E&C) and was a member of its core management team. Mr. Prabhu recently received CA-CFO Infrastructure & Construction Award for 2015 from The Institute of Chartered Accountants of India.
Defense and Security
The Battlefield Management System (BMS) project is progressing well and the consortium of BEL and Rolta is working together for preparation and submission of Detailed Project Report as a Development Agency for this project. The BMS is categorized as a "Make" programme under the DPP, and is one of the largest projects being indigenously developed and manufactured for the Indian Army. As a part of its exclusive consortium with BEL, Rolta is responsible for the complete BMS application software, GIS software and services. In addition, Rolta is jointly working with BEL for the soldier system and the overall system design, integration, installation, commissioning and maintenance of the expanded BMS programme.
In the Homeland Security market, Rolta continues to expand and consolidate its premier position by delivering cutting edge C2, Communications and Optronics solutions to various paramilitary and police agencies, across India. For example, Rolta's recent win of the Police Thermal Imagers project in Eastern India has further consolidated the Company's position in the domain of night vision Optronics, while in the mission critical communications area, the company has recently won sizeable orders from Police in Southern India for supply, installation and maintenance of Digital UHF and VHF wireless equipment, which has further fortified Rolta's standing.
Geospatial and Engineering Information Systems
Rolta continues to be a successful player in the Geospatial market leveraging its proven IP and know-how in various verticals. In a recent win, Rolta was awarded an additional project from one of the leading Electric and Gas Utilities that serves more than a million residents in the Southwest U.S. Rolta has been engaged to re-model the utility's Land Base and Imagery solution associated with their GIS Networks.
Similarly, Rolta has been engaged with the governments of Dubai, Qatar, and Saudi Arabia to fulfil their Smart City vision with innovative geospatial solutions. These range from the generation of smart 3D City Models, creating and updating geospatial databases, to automated portals with online workflows allowing them to efficiently serve their citizens. Rolta won a contract for the development of a comprehensive land management system for the Ministry of Housing in the Middle East as part of the Smart City taxation and revenue collection initiative. With the recent Smart Cities mission announced by the Government of India Rolta is poised to address this significant opportunity by leveraging its vast global experience, having completed over hundred Smart City projects.
Rolta's traditional engineering design automation and services business remains very robust. The Company is positioned very strongly due to its unique ability to integrate its portfolio of engineering solutions with enterprise-level IT applications. These solutions combine components of engineering models with relevant business data, to deliver very valuable insights for business decisions. Recently, Rolta successfully completed the 'Production Site Acceptance Testing' for the $40M+ engineering information solution being provided by Rolta at one of the largest Greenfield petrochemicals complex in the world.
Enterprise IT Consulting Services
Customers are increasingly looking for a single vendor capable of designing, delivering, optimizing and subsequently managing their Enterprise wide solutions. Rolta is looked upon to provide such cutting-edge solutions for deployment of sophisticated IT Infrastructure, including Cloud-enablement and enterprise security, with multi-year Managed Services engagements. Rolta has in the last quarter won several contracts worth $25M+ in diverse verticals, such as health care, consumer products, automotive, real-estate, education etc. For example, a major defence manufacturer of heavy trucks for the American military, Rolta is helping to fully leverage integrated business applications for better decision making, increased performance and cost reduction. Similarly, in the Manufacturing vertical, a leading producer of fabricated aluminium products and a long-time Rolta customer additionally awarded a strategically significant project to Rolta, for implementing new costing standards and generate key operational reports as part of their Data Warehouse and Analytics implementation. Further, the Company was selected by one of the largest associations of Credit Unions in North America to integrate, maintain and manage their Oracle Budgeting & Planning application.
In the area of Business Intelligence, Rolta SmartMigrate™, an automated solution for migration and consolidation of BI platforms, is being increasingly sought by customers to rapidly realize benefits from their investments in new technologies. One of the oldest and largest Department of Defence retail services organizations in North America recently selected Rolta for migration and consolidation of their BI platform to Microsoft SQL Server Reporting Services.
With its latest release, the Rolta SmartMigrate™ solution has now added significant enhancements of multi-instance migrations, that permit parallel migrations of multi-terabyte databases, with near-zero cut over time permitted for mission critical Cloud based software services. For example, recognizing the power of this innovation, a multinational corporation that provides Cloud based software to thousands of customers around the globe with several million end users, selected Rolta for their migration to a modern in-memory database platform.