August 7, 2018
Aurionpro Solutions Ltd., a provider of technology solutions for Banking, Digital Innovation and Cybersecurity, announced its Unaudited Financial Results for the quarter ended June 30th, 2018. The Financial Results are as per Ind-AS.
Performance highlights for Q1FY19
Consolidated Revenue for Q1 FY19 stood at Rs. 120.18 Crs as compared to Rs. 94.85 Crs for Q1 FY18, representing a growth of 26.7%% YoY. Growth is driven by projects going live for Banking & Fintech business along with Government & PSU business picking up traction.
EBITDA for Q1 FY19 stood at Rs. 24.1 Crs as compared to Rs. 17.7 Crs in Q1 FY18. The EBITDA Margin stood at 20% for Q1 FY19 up by 130 bps driven by controlled cost measures.
PAT for Q1 FY19 stood at Rs. 12.65 Crs as compared to Rs. 6.64 Crs in Q1FY18. The PAT Margin stood at 10.5% for Q1 FY19 up by 350 bps Y-o-Y.
Commenting on the results and performance, Mr. Paresh Zaveri, Chairman of Aurionpro Solutions Limited said:
“We are pleased to inform you all that the year has started with a positive note. Your Company has delivered strong performance with revenue growth of 26%, EBIDTA growth of 36% and Net Profit growth of 91% for Q1FY19. We are confident that we will continue to improve the profitability with higher growth as the year progresses.
We have further received a Nod from the NCLT board for demerger of our entities which will help us focus on core businesses in each entity and lead us to the growth path. Concentrated business with efficient management will be the key growth drivers for both resultant entities.
Increase in business of Digital Innovation & Government Services has led to growth in revenue. Now that we have enough presence in Government Services business, we are confident of executing it in the most efficient way and hoping for more business to tick in which will help us grow our top line with accelerated margins. Shift towards IP Portfolio (Cybersecurity, Digital Innovation & Banking and Fintech) has led to margin expansion, going ahead we expect the accelerated growth from better monitization of the portfolio in existing and new markets.
Demerger Update
National Company Law Tribunal (NCLT) Bench approved the Scheme of Arrangement between M/s. Aurionpro Solutions Ltd (ASL) and M/s. Trejhara Solutions Ltd (TSL) and their respective Shareholders, vide their Order dated 27th July 2018. In the lieu of consideration, Trejhara Solutions Ltd. will issue 1 equity share for every 2 shares held in Aurionpro Solutions Ltd.
The scheme of arrangement was sanctioned with an appointed date of 31st March 2017. Hence the Board approved the restated financials for FY18 post demerger.
About Aurionpro
Aurionpro Solutions Limited (NSE: AURIONPRO) (BSE: 532668) Aurionpro is a global technology solutions leader that helps enterprises accelerate their digital innovation, securely and efficiently. It combines core domain expertise, thought leadership in innovation, security and leverages industry leading IP to deliver tangible business results for global corporations. Employing more than 1,300 domain and technology experts across North America, Asia and Europe, Aurionpro caters to a host of clients across BFSI, Telecom and Logistics industry. For more information, visit: www.aurionpro.com.
