Rolta India cons PAT grows 26.3% QoQ
Close to a decade ago we embarked on an ambitious journey to transform Ro/ta from a predominantly GIS and Engineering services company to an IP-led IT organization, K. K.Singh said.Rolta India limited (Rolta), a leading provider of innovative IP-led IT solutions for many vertical segments, including Defense and Security, today announced audited financial results for the quarter and year ended March 31, 2016.
Consolidated Revenue for twelve months FY-16 at Rs.3,799.59 cr (Rs.37.996 Billion) against Rs. 3,679.46 cr (Rs. 36.80 Billion) in previous period,registering a Y-o-Y growth of 3.3%.
Consolidated Profit after Tax for twelve months Q4 FY-16 at Rs. 189.11cr (Rs. 1.89 Billion) against Rs. 245.17 cr (Rs. 2.45 Billion) in previous period,registering a Y-o-Y decline of 22.9%.
Consolidated Revenue for Q4 FY-16 at Rs. 846.04 cr (Rs 8.46 Billion) against Rs. 980.56 cr (Rs. 9.81 Billion) in Q3 FY-16,registering a Q-o-Q decline of 13.7%.
Consolidated profit after tax for Q4 FY-16 at Rs.59.21cr (Rs. 5.92 Billion) against Rs. 46.87 er (Rs. 4.69 Billion) in Q3 FY-16,registering a Q-o-Q growth of 26.3%.
The Board of Directors have not recommended a dividend for Financial year 2016.
Mr. K. K.Singh,Chairman and Managing Director said, "Close to a decade ago we embarked on an ambitious journey to transform Ro/ta from a predominantly GIS and Engineering services Company to an IP-led IT organization. I believe we have now completed the transformation and are at the inflexion point to rapidly reap the benefits of our.extensive investments in building solutions based on our rich and extensive repository of IP which will enable Ro/ta to be meaningful in the Digital era and steadily grow in the years ahead."
The company's Board has approved major changes in the top management team to grow the business to the next level. Lt.Gen K.T. Parnaik (retd.),currently President of Rolta's Defense and Security business, has had an illustrious career of over 40 years in the Army and held various leadership positions. He has been appointed asJoint Managing Director ("JMD") and member of the Board and will be in charge of Defense & Security business of the Company.
Mr. Rajesh Ramachandran,currently President of Global Products & Technology Solutions and CTO, has been elevated to the position of JMD and member of the Board for 'Global Products & Technology Solutions" in recognition of his contribution in transforming the Company's business into an JP-led model.
Mr. Ramakrishna Prabhu,CFO, has been elevated to the position of 'Director,Corporate Affairs & CFO' and a member of the Board. He has rich experience of nearly 30 years in all aspects of Accounting and Finance Management,including a stint as a senior partner in a leading audit firm.
Ms. Preetha Pulusani, President - International Operations and member of the Board will continue to lead InternationalOperationsin various Geographies around the world.
Mr.Atul Tayal,JMD and member of the Board,has stepped down from his positions, but will be available to ensure a smoothtransition and for advice from timeto time. The Board has put on record appreciation of services rendered by him.
Rolta has consciously made significant investments to remainat the forefront as a solutions provider with a sharp focus on the Digital revolution. Rolta's pursuit for product innovation continues unabated to incorporate Mobility, next generation Data-science-driven Analytics,real-time aggregation of loT,Locational and Sensor data, and Cloud-ready capabilities.