Home Business Financial Rolta announces financial results, Q4 profit grows by 41.7%

Rolta announces financial results, Q4 profit grows by 41.7%

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Rolta India has announced the annual and fourth quarter results.

India: Rolta India has announced financial results for the fourth quarter. For the first time, the audited results were declared under the Indian Accounting Standards. In this quarter, Rolta consolidated the after tax profit at INR 0.52 billion against INR 0.37 billion – an increase of 41.7% compared to the last quarter. However, in the annual results, the company consolidated a net profit of INR 1.67 billion for the fiscal year 2017 against the last year’s INR 1.84 billion, registering a decline of 9.3% from last year’s profit.

The Board of Directors have not recommended dividend for financial year 2017. Mr. K. K. Singh, Chairman and Managing Director said, “We have been charting a course to constantly transform Rolta to remain relevant in the face of relentlessly changing digital technologies and market needs while still remaining focused on core competencies and transition from Services to a predominantly IP led Solutions organization.”

He added, “We are now able to bring together rich solutions powered by our growing portfolio of IP and uniquely combining these with deep vertical specific domain expertise together with decades of Geospatial, Engineering and Enterprise IT experience. This long and arduous journey for transformation of close to a decade required significant investments while Rolta’s growing product portfolio was enriched and started gaining global acceptance. Going forward, I am confident Rolta will greatly benefit from nonlinear growth because of our IP led Solutions.”

Rolta owns a vast repository of around 250 registered copyrights for software packages powering the company’s differentiated digital transformation solutions in the areas of defense, smart cities, Cloud, enterprises and cyber security as well as BI and Big Data analytics.

As part of its ongoing innovation each of the products suites are enriched with new features and functionality based on a well-defined roadmap and formal releases. This is clearly reflected by Rolta’s innovative solutions continuing to receive industry recognitions and accolades.