Welcome!

.NET Authors: Yeshim Deniz, Carmen Gonzalez, Greg O'Connor, Pat Romanski, Elizabeth White

News Feed Item

Rolta's Q2-FY-14 Consolidated Revenue Grows 20.9% and Net Profit 6.2% Q-o-Q

MUMBAI, February 14, 2014 /PRNewswire/ --

Rolta India Limited, a leading provider of innovative IT solutions for many vertical segments, including Federal and State Governments, Defence and Homeland Security, Utilities, Process, Power, Banking and Insurance, today announced unaudited financial results for quarter ended December 31, 2013 (Q2 FY-14).

     (Logo: http://photos.prnewswire.com/prnh/20121023/570667 )

 

FINANCIAL HIGHLIGHTS

  • Consolidated Revenue for Q2 FY-14 at Rs.759.17 cr (Rs.7.59 Billion) against Rs. 627.77 cr (Rs. 6.28 Billion) in Q1 FY-14, registering a Q-o-Q growth of 20.9% and Y-o-Y growth of 44.2%.
  • Consolidated EBITDA for Q2 FY-14 at Rs. 285.06 cr (Rs. 2.85 Billion) against Rs. 239.34 cr (Rs. 2.39 Billion) in Q1 FY-14, registering a Q-o-Q growth of 19.1% and Y-o-Y growth of 32.5%.
  • Consolidated Profit after Tax for Q2 FY-14 at Rs. 74.61 cr (Rs. 0.75 Billion) against Rs. 70.26 cr (Rs. 0.70 Billion) in Q1 FY-14, registering a Q-o-Q growth of 6.2% and Y-o-Y growth of 6.0%.
  • Consolidated Revenue for six months FY-14 at Rs. 1,386.94 cr (Rs.13.87 Billion) against Rs. 996.62 cr (Rs. 9.97 Billion) in FY-13, registering a Y-o-Y growth of 39.2%.
  • Consolidated EBITDA for six months FY-14 at Rs. 524.40 cr (Rs. 5.24 Billion) against Rs. 427.69 cr (Rs. 4.28 Billion) in FY-13, registering a Y-o-Y growth of 22.6%.
  • Consolidated Profit after Tax for six months FY-14 at Rs. 144.87 cr (Rs. 1.45 Billion) against Rs. 133.60 cr (Rs. 1.34 Billion) in FY-13, registering a Y-o-Y growth of 8.4%.
  • The Company had adopted July 1 to June 30 Financial Year as its accounting practice.  The Companies Act 2013 has now prescribed a uniform Financial Year ending March 31 for all Indian Companies.  The Company's Board of Directors has, therefore, decided to end the current financial year on March 31, 2014 (instead of June 30, 2014). Therefore, the current financial year will be for a period of nine months up to March 31, 2014.  Subsequent financial years shall commence on April 1 and conclude on March 31.

Commenting on the results, Mr. K. K. Singh, Chairman and Managing Director said, "We are very pleased with the progress we are making in monetizing our investments in creating an IP-led business.  We are now getting much larger orders, including repeat business from existing customers.  These represent an expansion of the Company's footprint within customers' IT landscape, and include IP and annuity revenues, with on-going engagements for managed services."  

CORPORATE HIGHLIGHTS

The Company announced that its Promoters increased their share holding in the Company from around 40% to over 50% through creeping acquisitions over the last three years.  The Promoters continue to increase their holdings further through creeping acquisitions in line with SEBI guidelines.  This is evidence of the confidence that the Promoters have in the business model of the Company, the superiority of its offerings, and the growth potential of the Company.

Rolta's products and solutions are receiving increasing attention from industry analysts.  Rolta OneView™ was positioned by NASSCOM/Frost & Sullivan in the top right "Exemplars" quadrant in their Product Excellence Matrix ("PEM") for Analytics products in their report published in November 2013.  Exemplars are defined as: "…vendors that have a well-defined growth strategy and successful execution plan". In a second PEM that reflects the market focus from "narrow" to "wide", and level of maturity in the market from "entry" level to "established", Rolta OneView™ was once again placed in the top right quadrant, conveying that it is an established product with wide applicability in many vertical segments.

Rolta's strategic partnership with SAP announced in this quarter is a noteworthy development not only because it is another testimonial of the Company's differentiated offerings for Business Intelligence (BI), Big Data and Analytics, but also for the scope of the alliance.  Under the agreement, Rolta will provide customers across the world with cutting-edge solutions designed to exploit the power of SAP technology by combining Rolta's products with almost the complete database and technology portfolio offered by SAP.  This effectively enables Rolta to sell SAP products cost-effectively, bundled with its own IP anywhere across the world without having to depend on SAP's distribution channels.

On the other hand, Rolta is working with SAP to have Rolta OneView™ included in their "Preferred Partner Solution" program as a precursor to its inclusion in the SAP global price-book.  This will enable SAP's global sales force to sell the Rolta solution, which will dramatically increase the market penetration of Rolta OneView™ as it will reach SAP's 250,000+ customers.

Rolta has transformed its data center to a world-class private Cloud infrastructure with 100% virtualization.  Besides providing scalability and agility to Rolta's own organization, it is also used for delivering Rolta solutions and IP on the Cloud. Rolta is working to make Rolta OneView™ and its many other solutions available on SaaS (software as a service) model by leveraging Rolta GeoCloud™.

OPERATIONAL HIGHLIGHTS

Rolta continues to win projects in the areas of Geospatial, Engineering, IT and Defence & Security, even more so when it is able to combine its strengths in these areas. This is true for all geographical regions, vindicating Rolta's strategy of offering preconfigured but customized solutions that leverage Rolta's deep domain knowledge, its intellectual property, IT expertise and industry focus. Rolta has strengthened its position in significant industry segments like Banking, Finance, Insurance, Manufacturing, Retail and Healthcare, apart from the traditional Rolta segments like, Oil & Gas, Utilities, Government, Infrastructure, and Defense & Security, where it remains strong. The pipeline is, therefore, steadily undergoing a qualitative improvement, with larger, more sophisticated projects and greater contribution from Rolta IP.

Defense and Homeland Security:

In the Defence and Homeland Security (HLS) sector, the Company has continued to strengthen its leadership.

For example, Rolta is one of the few companies who have been invited to respond to the largest C2 defence 'Make India' program being undertaken by the Indian Army (estimated to be worth over Rs. 30,000 Crores / $ 5.0 Bn). With its incumbent software provider status, state-of-the-art indigenous GIS and C2 software that has been deployed and proven operationally at various field formations and cutting-edge communication solutions, Rolta is in an exceptional position to address this project.  In fact, some of the world's leading defence contractors have approached Rolta to not only partner the Company for this program but to also source Rolta software and solutions for their global projects.

Major HLS organizations have continued to repose confidence in Rolta's offerings with even more police forces in different cities/states, like Mumbai, Chandigarh, UP and Maharashtra finalizing on the Company's sophisticated solutions.  

Enterprise Geospatial and Engineering Solutions:

Rolta continues to win projects for Engineering Information Management from various verticals within the process industry.  These include assignments for as-built modeling to create repositories of validated data that serve as the foundation for enterprise level BI and Analytics.

Similarly, the Company continues to make significant inroads with its geospatial solutions.  The Company won a prestigious $25M+ project for 3D city modeling from Abu Dhabi City Municipality. This is an ambitious project designed to fulfill the challenges of sophisticated analysis and simulation for town planning, infrastructure development, environmental management, homeland security and emergency response.  Rolta will leverage its Geospatial Fusion™ solution framework and various special-purpose software tools.  

Rolta is seeing increased traction in the area of 3D modeling, with focus shifting towards building a mapping infrastructure that can help to improve citizen services, including safety and security. There are many municipal and government bodies actively pursuing similar approaches. In fact, Rolta has already received another order for 3D City modeling in Saudi valued at $4M+.  Similarly, another example is an innovative solution for a 3D Soil Mapping system built on the Rolta Geospatial Fusion™ platform in Dubai, which incorporates predictive analytics and 3D visualization capabilities. As an early mover in this complex field with a proven track record, Rolta is well placed to get significant business from other customers in in this specialized segment worth hundreds of millions dollars.  

Rolta won a prestigious contract from Saudi's General Commission for Survey valued at over $2.2 M for developing a geospatial web-based fully bilingual portal for distribution of spatial data to various stake-holders. The Company deployed Rolta Geospatial Fusion™ framework, which will now be leveraged to also provide executive dashboards for business and spatial analytics.  

Business Intelligence, Big Data and Analytics

Rolta has achieved a position of eminence in BI and Big data Analytics with some prestigious wins.  This is an area of IT that is rated as the top priority for CIOs and is attracting big investments.  With some very unique IP that has received industry acclaim, such as Rolta OneView™, Rolta iPerspective™, Rolta GeoBI™, and many other suites, Rolta offers innovative approaches to implementing BI and Analytics.  For example, Rolta has architected and developed a Big Data Analytics solution with Rolta OneView™ and SAP HANA for asset integrity and performance management for a large process manufacturing company with multiple production sites across the world.  

Rolta is experiencing very good traction for its differentiated BI and Analytics solutions in various geographies and many vertical segments.  For example, the Company is leveraging Rolta GeoBI™ framework to deliver a location-aware analytics solution for a major Electric Utility company in the US.  For a US company in the Healthcare vertical, Rolta is implementing an Enterprise-level BI solution. For a major chemical company in Qatar, Rolta was engaged to define their BI and Big data Analytics solution for an ambitious enterprise-wide project.  A similar project has also been awarded by an Oil company in Oman.

IT Consulting and Managed Services

Rolta continues to expand its Consulting & Managed Services engagements, thereby increasing annuity revenues from long-term contracts.  An example of success in this practice area is a customer in the US who has entrusted on-going management of their mission-critical SAP ERP implementation which supports transactions pertaining to over 5 million products in their portfolio.  

Similarly, many other customers have retained Rolta to manage their complex IT Infrastructure, databases and enterprise applications.  Examples include customers in the Oil & Gas, Utilities, Retail and Manufacturing sectors.  In all cases, Rolta leverages its IP and domain expertise.

In India, Rolta has won a prestigious World Bank funded contract from Bihar Rural Livelihoods Promotion Society for delivering a micro-financing solution.  Rolta e-Governance™ Solution is being implemented on Oracles ERP platform.  Such projects are expected to be replicated by 24 States with WB funding.

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, Analytics, 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.  The Company's 'Senior Notes' are listed on Singapore Stock Exchange.

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. The Company may make additional written and oral forward-looking statements but do not undertake, and disclaim any obligation, to update them.

For additional information please visit http://www.rolta.com, or contact:

Atul Tayal
Jt. MD & COO - Domestic Operations
Member of the Board
[email protected]
Tel: +91(22)2926-6666

Preetha Pulusani
President - Americas
Member of the Board
[email protected]
Tel: +1(678)942-5000

Pankit Desai
President - Business Operations:
Europe, Middle East and Africa
[email protected]
Tel: +91(22)2926-6666

Hiranya Ashar
Director Finance & CFO
Member of the Board
[email protected]
Tel: +91(22)2926-6666

SOURCE Rolta India Limited

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories

SUNNYVALE, Calif., Oct. 20, 2014 /PRNewswire/ -- Spansion Inc. (NYSE: CODE), a global leader in embedded systems, today added 96 new products to the Spansion® FM4 Family of flexible microcontrollers (MCUs). Based on the ARM® Cortex®-M4F core, the new MCUs boast a 200 MHz operating frequency and support a diverse set of on-chip peripherals for enhanced human machine interfaces (HMIs) and machine-to-machine (M2M) communications. The rich set of periphera...

The Internet of Things (IoT) is making everything it touches smarter – smart devices, smart cars and smart cities. And lucky us, we’re just beginning to reap the benefits as we work toward a networked society. However, this technology-driven innovation is impacting more than just individuals. The IoT has an environmental impact as well, which brings us to the theme of this month’s #IoTuesday Twitter chat. The ability to remove inefficiencies through connected objects is driving change throughout every sector, including waste management. BigBelly Solar, located just outside of Boston, is trans...
SYS-CON Events announced today that Matrix.org has been named “Silver Sponsor” of Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Matrix is an ambitious new open standard for open, distributed, real-time communication over IP. It defines a new approach for interoperable Instant Messaging and VoIP based on pragmatic HTTP APIs and WebRTC, and provides open source reference implementations to showcase and bootstrap the new standard. Our focus is on simplicity, security, and supporting the fullest feature set.
Predicted by Gartner to add $1.9 trillion to the global economy by 2020, the Internet of Everything (IoE) is based on the idea that devices, systems and services will connect in simple, transparent ways, enabling seamless interactions among devices across brands and sectors. As this vision unfolds, it is clear that no single company can accomplish the level of interoperability required to support the horizontal aspects of the IoE. The AllSeen Alliance, announced in December 2013, was formed with the goal to advance IoE adoption and innovation in the connected home, healthcare, education, aut...
SYS-CON Events announced today that Red Hat, the world's leading provider of open source solutions, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, a...
The only place to be June 9-11 is Cloud Expo & @ThingsExpo 2015 East at the Javits Center in New York City. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT & Big Data companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterprise. Speakers from all over the world will be hand-picked for their ability to explore the economic strategies that utility/cloud computing provides. Whether public, private, or in a hybrid form, clo...
Software AG helps organizations transform into Digital Enterprises, so they can differentiate from competitors and better engage customers, partners and employees. Using the Software AG Suite, companies can close the gap between business and IT to create digital systems of differentiation that drive front-line agility. We offer four on-ramps to the Digital Enterprise: alignment through collaborative process analysis; transformation through portfolio management; agility through process automation and integration; and visibility through intelligent business operations and big data.
Be Among the First 100 to Attend & Receive a Smart Beacon. The Physical Web is an open web project within the Chrome team at Google. Scott Jenson leads a team that is working to leverage the scalability and openness of the web to talk to smart devices. The Physical Web uses bluetooth low energy beacons to broadcast an URL wirelessly using an open protocol. Nearby devices can find all URLs in the room, rank them and let the user pick one from a list. Each device is, in effect, a gateway to a web page. This unlocks entirely new use cases so devices can offer tiny bits of information or simple i...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, will address the big issues involving these technologies and, more important, the results they will achieve. How important are public, private, and hybrid cloud to the enterprise? How does one define Big Data? And how is the IoT tying all this together?
TechCrunch reported that "Berlin-based relayr, maker of the WunderBar, an Internet of Things (IoT) hardware dev kit which resembles a chunky chocolate bar, has closed a $2.3 million seed round, from unnamed U.S. and Switzerland-based investors. The startup had previously raised a €250,000 friend and family round, and had been on track to close a €500,000 seed earlier this year — but received a higher funding offer from a different set of investors, which is the $2.3M round it’s reporting."
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, data security and privacy.
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. Over the summer Gartner released its much anticipated annual Hype Cycle report and the big news is that Internet of Things has now replaced Big Data as the most hyped technology. Indeed, we're hearing more and more about this fascinating new technological paradigm. Every other IT news item seems to be about IoT and its implications on the future of digital busines...
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have s...
The Internet of Things needs an entirely new security model, or does it? Can we save some old and tested controls for the latest emerging and different technology environments? In his session at Internet of @ThingsExpo, Davi Ottenheimer, EMC Senior Director of Trust, will review hands-on lessons with IoT devices and reveal privacy options and a new risk balance you might not expect.
IoT is still a vague buzzword for many people. In his session at Internet of @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, will discuss the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. The presentation will also discuss how IoT is perceived by investors and how venture capitalist access this space. Other topics to discuss are barriers to success, what is new, what is old, and what the future may hold.
Swiss innovators dizmo Inc. launches its ground-breaking software, which turns any digital surface into an immersive platform. The dizmo platform seamlessly connects digital and physical objects in the home and at the workplace. Dizmo breaks down traditional boundaries between device, operating systems, apps and software, transforming the way users work, play and live. It supports orchestration and collaboration in an unparalleled way enabling any data to instantaneously be accessed on any surface, anywhere and made interactive. Dizmo brings fantasies as seen in Sci-fi movies such as Iro...
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other mach...
This Internet of Nouns trend is still in the early stages and many of our already connected gadgets do provide human benefits over the typical infotainment. Internet of Things or IoT. You know, where everyday objects have software, chips, and sensors to capture data and report back. Household items like refrigerators, toilets and thermostats along with clothing, cars and soon, the entire home will be connected. Many of these devices provide actionable data - or just fun entertainment - so people can make decisions about whatever is being monitored. It can also help save lives.