BackRolta India reports Q1 net of ₹61.80 crore
Rolta's revenue rises 44% to Rs881.28 crore in the June quarter, compared with Rs612.20 crore in the year-ago period
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Mumbai: Rolta India Ltd, a defence and geospatial information technology solutions provider, reported a net profit of ₹ 61.80 crore for the fiscal first quarter ended 30 June. It had posted a net loss of ₹ 1,045.94 crore in the year-ago period.
On a sequential basis, net profit fell 55% from ₹ 138.81 crore in the March quarter, on account of additional depreciation due to a change in estimates, the company said.
Rolta’s revenue rose 44% to ₹ 881.28 crore in the June quarter, compared with ₹ 612.20 crore in the year-ago period. On a sequential basis, however, revenue declined by 20.9% from ₹ 1,114.78 crore in the March quarter.
The company’s earnings before interest, taxes, depreciation and amortization(Ebitda) stood at ₹ 296.07 crore, a rise of 5.2% over the preceding quarter’s Ebitda of ₹ 227.29 crore.
“Encouraged by this success of the company’s solutions-based business model, we are focusing on rapidly widening our market reach to not only win new customers, but also to engage with our 3,500-plus customer base to offer additional solutions and services from our expanded portfolio," said Kamal K. Singh, chairman and managing director of Rolta.
Rolta recently raised $300 million from international markets through the 8.875% senior notes (a type of bond) issued by its wholly-owned overseas subsidiary, Rolta America Llc. The notes have a tenure of five years and are guaranteed by Rolta and its subsidiaries. The notes will be listed on the Singapore Exchange Securities Trading Ltd (SGX-ST).
At 9.20am, shares of Rolta lost 1.38% to ₹ 106.85, while the benchmark Sensex was up 0.69% at 25,505.04 points.
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