Rolta’s Q3 FY-09 Consolidated Revenue Grows 15.1 % Y-o-Y
Mumbai – Rolta India Limited, one of India’s leading IT companies, specializing in Geospatial Information Systems (GIS), Defense and Homeland Security, Engineering Design Services (EDS), and Enterprise Information and Communications Technology (EICT), today announced unaudited financial results for the quarter ended March 31, 2009.
FINANCIAL HIGHLIGHTS
· Consolidated Revenue for Q3 FY-09 at Rs. 332.03 crores (Rs. 3,320.3 Mn) against Rs. 288.37 crores (Rs. 2,883.7 Mn) in FY-08, registering a Y-o-Y growth of 15.1%.
· Consolidated EBITDA for Q3 FY-09 at Rs. 106.48 crores (Rs. 1,064.8 Mn) against Rs. 100.77 crores (Rs.1,007.7 Mn) in FY-08, registering a Y-o-Y growth of 5.7 %.
· Consolidated Net Profit for Q3 FY-09 at Rs. 133.14 crores (Rs. 1,331.4 Mn) against Rs. 65.72 crores (Rs.657.2 Mn) in FY-08, registering a Y-o-Y growth of 102.6 %.
· Consolidated Revenue for the nine months ended March 31, 2009 at Rs. 1,040.11 crores (Rs. 10,401.1 Mn) against Rs. 751.10 crores (Rs. 7,511.0 Mn) in FY-08, registering a growth of 38.5 %.
· Consolidated EBITDA for the nine months ended March 31, 2009 at Rs. 351.05 crores (Rs. 3,510.5 Mn) against Rs. 277.54 crores (Rs. 2,775.4 Mn) in FY-08, registering a growth of 26.5 %.
· Consolidated Net Profit for the nine months ended March 31, 2009 at Rs. 217.60 crores (Rs. 2,176.0 Mn) against Rs. 179.76 crores (Rs. 1,797.6 Mn) in FY-08, registering a growth of 21.0 %.
· The company has opted for accounting the exchange differences arising on reporting of long term foreign currency monetary items in line with companies (Accounting Standards) Amendment Rules 2009 on Accounting Standard 11 (AS-11) as notified by Government of India on March 31, 2009. Accordingly the effect of exchange differences on FCCB,s/ECB’s of the company is accounted by addition or deduction to the cost of the assets so far it relates to depreciable capital assets and in other cases by transfer to “Foreign Currency Monetary Items Translation Difference Account”. Exchange difference recognized in the Profit & Loss Account up to last financial year ending June 30, 2008 relating to long term liabilities in foreign currency has been adjusted against opening revenue reserve as provided in the rules. As a result of this change in accounting for exchange difference, Profit before exceptional item for the quarter and nine months ending March 31, 2009 is lower by Rs. 11.87 crores with corresponding increase in Other expenses and Depreciation. The company has reversed foreign exchange revaluation loss amounting to Rs. 84.01 crores on translation of FCCB liability of US$ 150 million which was charged to Profit & Loss during July ’08 to Dec ’08 as an exceptional item and as a result the net profit for the quarter and nine months ending March 31, 2009 is higher by Rs. 72.14 crores.
Commenting on the results, Mr. K. K. Singh, Chairman and Managing Director, said: “We are confident that even in this difficult economic scenario, we will continue to build and strengthen our businesses, by developing innovative solutions, which provide deep insights and make a strong positive impact in our customer environments”.
OPERATIONAL HIGHLIGHTS
Geospatial Information Systems (GIS)
The Company’s unique solution for instantaneously enabling fusion of various disparate geospatial & non-spatial databases and software applications for generating real-time reports and immediate decision-making i.e. Rolta Geospatial FusionTM, has been very well received various markets, like US, Canada, Africa, Middle-East & India.
The Company continues to maintain its leadership in the Indian Defense Geospatial market and its JV with Thales – Rolta Thales Ltd. has launched innovative combat solutions for Mechanized Forces, Op Logistics, Order of Battle (ORBAT) generation/management and Ops room visualization, which can be quickly deployed in various formations. The Company has further strengthened its Homeland Security offerings, by launching state-of-the-art Maritime Safety & Security Solutions.
Engineering and Design Services (EDS)
The Company has launched Rolta OneViewTM – a state-of-the-art and unique solution for addressing the critical operational and reliability needs of Owner-Operators by integrating business intelligence tools with enterprise-level engineering databases and applications. This solution provides operational excellence and high reliability metrics through accurate and timely reporting on more than 100,000 pieces of equipment and hundreds of operations throughout a large plant in the Oil & Gas sector. Rolta OneViewTM provides significant improvements in refinery operations, resulting in downtime reduction, inventory rationalization, optimization of crude selection and improved refinery planning. The Company continues to expand this exceptional solution, which provides a very high-value proposition, especially in these challenging times.
The Company’s JV with The Shaw Group – Shaw Rolta Limited is progressing well and the Company is well positioned to take advantage of opportunities opening up in the Indian nuclear power sector, by leveraging the strengths of its JV partner, the Shaw Group Inc., USA, a world leader in this field.
Enterprise Information & Communications Technology (E-ICT)
The Rolta SOA Center of Excellence, a software division of the Company and leading provider of agile service-oriented architecture (SOA) solutions, launched Rolta SOA TodayTM. This solution allows CTO’s to quickly bring corporate strategy in line with business user needs while modernizing/upgrading their IT systems and uniquely makes information stored in disparate databases and heterogeneous platforms securely available and re-usable across the enterprise. Rolta SOA TodayTM provides a practical and cost-effective means to the users to exploit the wealth of data locked up in their IT infrastructure and brings tremendous value to stakeholders, by improving effective decision-making, across the enterprise
The Rolta SOA TodayTM solution incorporates the Company’s exceptional IPR (patent filed in US) and comprehensive services for assessing and defining an organization’s current environment with respect to enterprise application (EA), business process management (BPM) and governance, and developing and implementing the right SOA solution.
Corporate
The Company has expanded its world-class facilities by recently inaugurating a state-of-the-art development and delivery center in SEEPZ, an SEZ in Mumbai. This center, with a 1500-seat capacity, is in close proximity to the Company’s existing facilities.
The Company has renewed its 23-year long partnership with Intergraph and will exclusively provide, customize & build on Intergraph’s enterprise engineering and product lifecycle management (PLM) software, to address the unique issues faced by Indian process, power, marine and offshore industries. In addition, the Company will also provide solutions along with Intergraph’s geospatially enabled software. The combined resources of the Company and Intergraph are a perfect match to provide superior customer satisfaction in the global engineering and geospatial marketplaces.
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