labels: rolta india ltd, it news
Rolta announces Q3 Resultsnews
Our Corporate Bureau
03 May 2004
Mumbai: Rolta India Limited, a CAD/CAM/GIS solutions and services provider, announced impressive unaudited results for the quarter ended March 31, 2004.

The total income for the quarter was Rs. 81.14 crores reflecting a growth of 56.6 % over comparable income of Rs. 51.82 crore for the corresponding quarter in the previous year. The net profit after depreciation and tax for this quarter was Rs. 21.19 crore against a net profit of Rs. 15.48 crore during the same quarter of the previous year, representing a growth of 36.9%. The earning per share for the quarter was Rs. 3.3 as compared to Rs. 2.4 for the corresponding period last year.

The total income for the nine-month period ended March 31, 2004 was Rs. 208.42 crore, an increase of 27.3% over the comparable income of Rs. 163.79 crore for the corresponding nine-month period of the previous year. The net profit after tax for the period of nine months ended March 31, 2004 was Rs. 63.69 crore against Rs. 51.51 crore for the corresponding period last year, reflecting a growth of 23.6%.

In the GeoEngineering/GIS segment, the Company has received major export orders from British Telecom, UK, Verizon, USA and from UAE, which are being executed from its state of the art facilities in Mumbai. Even in the domestic market, the company has received large orders from the defence and telecom sectors, reinforcing its standing as the number one provider of GeoEngineering/GIS solutions, in India. The current order book position of the company stands at over Rs. 200 crore.

Rolta and Stone & Webster have moved ahead and converted the MoU between the two companies, into an agreement to establish a joint venture company in India. This venture has already started high-end engineering projects, using cutting edge technology for Stone & Webster's global operations and will pursue large projects in India for establishing refinery and power plants on a turnkey basis. In addition, The Dow Chemical Company, USA, has entered into an Agreement with Rolta as a preferred partner for providing extensive engineering and IT services to support their global projects. The company expects significant potential from this partnership. In the domestic market, the company continues to maintain its leading position as the number one provider of high-end plant design solutions to the Indian market.

The company's export thrust in eSolutions and eSecurity is progressing at a good pace with multifaceted projects being executed for large customers such as Cingular, Sodexho, EDS/MediCal, 21st Century Insurance Co, Fidelity Investments, Comcast IP, Verizon and many others, in partnership with world-leading Companies like Computer Associates (CA). The domestic market is also seeing a good absorption of this expertise e.g. Rolta recently carried out a multi-location implementation on eSecurity for CA's end-customer - TCS. The Company's software development practices have been assessed at SEI-CMM Level 4 by KPMG, which are expected to move up to Level 5, shortly.

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Rolta announces Q3 Results