Rolta's Q2 FY-13 Consolidated Revenue Grows 12.0% and Net Profit 11.4% Sequentially
MUMBAI, February 12, 2013 /PRNewswire/ --
Rolta India Limited, a leading provider of innovative IT solutions for many vertical segments, including Federal and State Governments, Defense and Homeland Security, Utilities, Process, Power, Banking and Insurance, today announced unaudited financial results for quarter ended December 31, 2012 (Q2 FY-13) which have undergone a limited review by statutory auditors of the company.
- Consolidated Revenue for Q2 FY-13 at Rs. 526.48 crores (Rs. 5.26 Billion) against Rs. 470.14 crores (Rs. 4.70 billion) in Q1 FY-13, registering a sequential growth of 12.0%.
- Consolidated Profit after Tax for Q2 FY-13 at Rs. 70.39 crores (Rs. 0.70 Billion) against Rs. 63.21 crores (Rs. 0.63 Billion) in Q1 FY-13, registering a sequential growth of 11.4%.
Commenting on the results, Mr. K. K. Singh, Chairman and Managing Director said, "Our strategy of transforming Rolta from a pure-play GIS/Engineering services company to an IP-led solutions provider is nearing completion. The Company now offers enterprise-wide integrated solutions that uniquely combine the benefits of Geospatial, Engineering, IT and Security domains. We are beginning to see strong evidence of the success of our strategy world-wide, as is reflected in our numbers for the quarter."
The Company made significant progress on many fronts during the quarter ended December 31, 2012. Rolta completed the acquisition of AdvizeX Technologies to widen its portfolio to include offerings in the areas of Cloud Computing, Big Data analytics, and IT Infrastructure design and security. The Company established strategic global partnerships with Oracle and SAP, taking the relationship with both to the next level.
On the business front, the Company has booked significant orders, including some for large innovative solutions with potential for follow-on business. The Order Book and the Pipeline are very healthy.
The Company appointed Preetha Pulusani as President, Rolta International, Inc. for Americas. She has also been inducted to the Board of Rolta India Limited as a Director. In the past, Preetha has served Rolta India as Joint Managing Director, and the Chief Strategy Officer. Prior to joining Rolta, Preetha had a twenty-five year career with Intergraph Corporation of USA that culminated with her appointment as the President of the Security, Government and Infrastructure (SG&I) Division with annual revenues of over $400 million. She replaces Ben Eazzetta, who wishes to pursue other interests but will continue to be a member of the Rolta International Board and an advisor.
The company also appointed Pankit Desai as President - Business Operations for Europe, Middle East and Africa. Prior to Rolta, Pankit has served in executive leadership positions for companies such as NTT DATA, Intelligroup, Wipro and IBM, and thus brings rich experience in enterprise IT solutions to Rolta, including 15 years in the US.
Rajesh Ramachandran was appointed as the President & CTO for Global Products & Technology Solutions. He comes with rich experience at executive leadership positions at eBay, Oracle and Siemens, where he held product development and global delivery responsibilities.
Enterprise Geospatial & Engineering Solutions (EGES)
Rolta continues to experience good traction for its solutions in various vertical segments that it addresses. The Company has been recently selected to design and build a sophisticated Soil Information Management system in UAE. The Bahrain Enterprise Asset management System was successfully commissioned and the customer is evaluating additional add-on applications. The Company has been awarded projects valued at about $10M in North Africa for creating a digital spatial database, consisting of base maps and elevation models, for the country for use by multiple agencies, such as the land-records department, railways, municipalities, and for eventual integration with "business" applications on the Geospatial Fusion platform. In Western Europe, Rolta has been engaged for creating a digital landbase for municipalities, again for exploitation by BI applications. Rolta has been contracted by USA's largest commercial satellite operator and data provider to build digital elevation models (DEMs) for international airports across the world. The DEMs are being deployed for safety and security of the airports.
The company has successfully delivered a 3D "as-built" model for a major refinery in Kuwait, using sophisticated laser-grammetry and modeling tools. In addition to engineering design and automation, the Company's solutions for procurement and construction management have also been well received by the process industry in India, with the country's premier oil & gas company selecting Rolta for its fast-tracked $18 B expansion project.
Enterprise IT & Security Solutions (EITS)
The Company's strategy to differentiate its offerings in the large main-stream IT solutions and services market through deep domain knowledge of select vertical segments, and its integration with geospatial technologies, is meeting with success. Rolta has recently won a $31M contract from the largest 3-utility municipality in the US, MLGW of Memphis, for a comprehensive IT deployment project that will integrate Oracle e-Business Suite applications, including Financials, eAM, Human Resources, Hyperion and Business Intelligence, with spatial data. The success of Rolta's strategy was again evidenced by the recent award of contracts valued at $11M by Northern Powergrid, UK to modernize their IT infrastructure and business processes while leveraging geospatial intelligence through integration with a mobile platform, and deliver improved utilization through life-cycle asset management.
The Company has established state-of-the-art Centers of Excellence in Mumbai and Chicago to showcase Rolta's expertise and offerings for business analytics and Big Data solutions based on Oracle Exalytics and SAP HANA. Rolta OneView™ is one of the first enterprise business intelligence (BI) and analytics suites to have been engineered for SAP HANA. Rolta now has a Centre for Cloud Assessment & Strategy in Cleveland, Ohio where clients can simulate different approaches to optimize their IT infrastructure strategy. Rolta completed the deployment of a highly secure private Cloud platform for a multi-agency security organization in the Middle-East, built around Rolta iPerspective™, a platform for integration, cloud-enablement and IT security.
Rolta OneView™ continues to be well received in the oil and petrochemical capitals of the world. Rolta OneView went live in a petro-chemical firm in Saudi Arabia. It has been selected by a major petrochemical company in Oman for its BI initiative for organizational excellence, spanning all business functions - operations, maintenance, cost control, HSE, assets, reliability, and finance.
In the Security segment, the Company is actively engaged with many agencies to present proofs-of-concept for very large procurement programs, solutions for which require a combination of skills in IT, communications, geospatial technologies, and domain-specific know-how. While large multi-billion dollar defense programs like Battlefield Management Systems, Digital Soldier Program, etc. continue to progress well, Rolta has also started seeing good success for its Homeland & Maritime Safety and Optronics solutions with several safety and security agencies at both central and state level choosing to award projects to the Company, including a recent selection by one of the largest state police forces for deploying optronics devices to enhance their night vision capabilities. Rolta has also been selected by a few more north-eastern states in India to implement their Crime & Criminal Tracking Network (CCTNS) projects.
About Rolta: Rolta is a leading provider of innovative IT solutions for many vertical segments, including Federal and State Governments, Defense/HLS, Utilities, Process, Power, Financial Services, Manufacturing, Retail, and Healthcare. By uniquely combining its expertise in the IT, Engineering and Geospatial domains, Rolta develops exceptional solutions for these segments. The Company leverages its industry-specific know-how, rich repository of intellectual property that spans photogrammetry, image processing, geospatial applications, business intelligence, analytics, field-proven solution frameworks, and deep expertise in cutting-edge technologies like Geo BI, Cloud computing, Software Defined Infrastructure and Big Data for providing sophisticated enterprise-level integrated solutions. Rolta is a multinational organization headquartered in India. The Company operates from 40 locations worldwide through its subsidiaries, and has executed projects in over 45 countries. The Company benchmarks its quality processes to the world's best standards, like successful assessment for Software Application Development and Maintenance at the highest Level 5 of SEI's CMMI® version 1.3. Rolta is listed on the Bombay Stock Exchange & National Stock Exchange, and forms part of various indices on BSE/NSE in India. The Company's GDRs are listed on the Main Board of London Stock Exchange.
For additional information please visit http://www.rolta.com, or contact:
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.
Joint Managing Director &
COO -- Domestic Operations
Member of the Board
President -- Americas
Member of the Board
President - Business Operations:
Europe, Middle East and Africa
Director Finance &
Chief Financial Officer
SOURCE Rolta India Limited
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