Rolta clocks 20.9% growth in consolidated revenue for Q’2-FY-14

22nd February 2014 | By Mouseworld Now Correspondent |

 

New Delhi, India, Feb 22, 2013:  Rolta India, a leading provider of innovative IT solutions, has announced  20.9% growth in consolidated Revenue for Q2-FY-14 and a  Net Profit growth of 6.2% Q-o-Q.  Rolta provides IT solutions to several vertical segments including Federal and State Governments, Defense and Homeland Security, Utilities, Process, Power, Banking and Insurance.

Rolta has adopted July 1 to June 30 Financial Year as its accounting practice. The Companies Act 2013 prescribes a uniform Financial Year ending March 31 for all Indian Companies. Rolta’s Board of Directors has decided to end the current financial year on March 31, 2014 (instead of June 30, 2014).
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.”

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.

 

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