Aurionpro Growth in line with Anticipated Momentum through Third Quarter, Reports 80.88% Growth in Net Profit Year-Over-Year
The company's focus on delivering customer value with improved efficiency helps aid revenue and income growth.
- (1888PressRelease) February 12, 2015 - Aurionpro Solutions Ltd (NSE: AURIONPRO) (BSE: 532668), a provider of domain focused technology solutions for complex business needs, announced its financial results for the third quarter ended December 31, 2014.
Q3 FY14-15 Financial Highlights:
Total revenue for the period was Rs.172.10 Crores, up 5.89% YoY
Consolidated EBITDA for the quarter was Rs.29.69 Crores, up 27.38% YoY
Consolidated net profit was Rs.20.55 Crores, up 80.88 % YoY
"We are satisfied with our performance in this quarter. Traditionally, the third quarter is a softquarter with Thanksgiving and Christmas holidays impacting business. The seasonality combined with unfulfilled demand in tight labour market conditions in the US contributed to a slow QoQ growth." Said Samir Shah, CEO, "We are encouraged to see a strong surge in demand from our clients especially for our Enterprise Security and Innovation Lab offerings. The latter continues to find excellent adoption with three new clients in this quarter."
Management Update:
In line with its strategy to strengthen the management team, Hari Murthy, Member of the Board will assume an Executive Position as Executive Vice Chairman. The appointment will be effective 11th February, 2015. Hari is a senior executive with over twenty-five years of experience leading global technology companies in various CXO roles. As Executive Vice Chairman, Hari will focus on expediting Aurionpro's strategic growth initiatives.
"It is great to have Hari joining Aurionpro in a full time executive role. As a member of our board, he has been strong proponent of our vision for accelerated growth." said Paresh Zaveri, Chairman, Aurionpro, "With him as Executive Vice Chairman, we can accelerate our transformation into a high growth organization that will outperform the market."
"Aurionpro already has a track record of strong performance and innovation. And there is tremendous untapped opportunity in front of us." said Hari Murthy, "I believe in the vision of the management and look forward to actively driving the organizational strategies to fruition powered by speedy execution."
Q3 FY14-15 Business Highlights:
Mumbai High Court has approved the merger of Intellvisions Software Ltd. with Aurionpro SolutionsLtd. The acquisition strengthens Aurionpro's Banking and Innovation Lab offerings as Intellvisions' Kiosk product line can transform the digital interactive customer experience.
Aurionpro was named amongst the top 100 Global Providers of Financial Technology by FinTech Forward 100 for 2014. Named for the fourth time in six years.
Aurionpro strengthened its leadership team with multiple additions to its management team. Recent additions include:
Nikhil Menon has joined as Vice President, Head of Sales for ASEAN
Balaji Desikamani has joined as Sr. Vice President, Global Head of Marketing
Sandeep Kaujalgi has joined as Executive Vice President, Head of Sales, Innovation Lab, North America
Aurionpro's Innovation Lab offering gained strong traction amongst customers with 3 customers signing up for adoption through the third quarter.
Gross addition of 84 employees and total employee strength stands at 1172.
Geographically, North America contributed to 44% of revenue with India adding another 23% of revenue. Rest of world and Europe contributed 33%.
About Aurionpro
Aurionpro Solutions (NSE: AURIONPRO) (BSE: 532668) is a publicly traded company offering domainfocused technology solutions to complex business needs of Fortune 1000 companies. With revenues over 100+ Mn USD and employing more than 1,100 experts across North America, Asia, and Europe, the company has been named among the top 100 technology companies for Financial Services worldwide in 2014.
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