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September 1st, 2013
Rolta India Posts Q4 Loss

Consolidated Results

The Mumbai-based company posted fourth-quarter net loss, after minority interest and exceptional item, of Rs.1,045.94 crore, compared with a net profit of Rs.47.74 crore in the fourth-quarter of last year.

Results for the quarter included a one-time charge of Rs.1,153.68 crore, under exceptional item, toward additional depreciation due to change in estimates.

Excluding exceptional item, profit for the quarter under review was Rs.107.75 crore, compared with Rs.73.14 crore in Q3FY13, registering a sequential growth of 47 percent and y-o-y growth of around 126 percent, the company said.

Quarterly net increased by 38 percent to Rs.612.20 crore from the Rs.445.10 crore in the corresponding quarter last year, while other income amounted to Rs.15.95 crore, compared with Rs.2.91 crore in the preceding year quarter.

During the quarter, income from ‘Enterprise Geospatial and Defense Solutions’ segment grew by 13 percent to Rs.176.44 crore from the Rs.156.79 crore in the year-ago quarter, while that of ‘System Integration & Enterprise IT Solutions’ rose by 51 percent to Rs.435.76 crore from the Rs.288.31 crore in the fourth-quarter of 2012.

For the fiscal year, Rolta India posted consolidated net loss, after minority interest and exceptional item, of Rs.839.20 crore, compared with a net profit of Rs.242.34 crore in 2012.

Results for the year included a one-time charge of Rs.1,153.68 crore, under exceptional item, toward additional depreciation due to change in estimates.

Excluding exceptional item, profit for the year stood at Rs.314.49 crore, compared with Rs.242.34 in FY12, registering a y-o-y growth of around 30 percent, the company said.

Net income during the year rose by 19 percent to Rs.2,178.78 crore from the Rs.1,828.79 crore a year-ago, while other income amounted to Rs.38.96 crore, compared with Rs.36.18 crore last year.

Stand-alone Results

Rolta India reported fourth-quarter stand-alone net loss amounted to Rs.1,008.93 crore, compared with a net profit of Rs.72.96 crore in the year ago quarter. Net income and other income rose by four percent to Rs.364.24 crore from Rs.347.24 crore in the corresponding quarter last year.

Results for the quarter included a one-time charge of Rs.1,152.72 crore, under exceptional item, toward additional depreciation due to change in estimates.

For the full year, the company posted stand-alone net loss of Rs.737.43 crore, compared with a net profit of Rs.327.34 crore last year. Net income and other income grew by percent to Rs.1,345.50 crore from the Rs.1,503.91 crore for the comparable period in 2012.

Results for the year included a one-time charge of Rs.1,152.72 crore, under exceptional item, toward additional depreciation due to change in estimates.

Its board recommended a dividend of 30 percent or Rs.3.00 per equity share of Rs.10 each for the fiscal year 2013.

Chairman & Managing Director K.K. Singh said. “We have virtually completed our transformation from a services oriented business to an IP led one. This entailed building a repository of world-class intellectual property through in-house development and acquisitions, for providing differentiated enterprise-level solutions to various vertical segments. These solutions have been received very well by the market and we are increasingly seeing the monetization of these investments, through higher IP based revenues and longer term annuity contracts. In the coming years, we are confident that this transformation will have an even more significantly positive impact on our performance.”