SOURCE: aurionPro Solutions

Aurionpro

November 06, 2015 02:30 ET

Aurionpro Grows Revenue QoQ by 8% in Q2 FY15-16

MUMBAI, INDIA--(Marketwired - November 06, 2015) - Aurionpro Solutions Ltd (NSE: AURIONPRO) (BSE: 532668), a global provider of products and technology solutions for accelerating digital innovation, securely and efficiently today announced its financial results for the second quarter ended September 30, 2015.

Q2 FY15-16 -- Financial Highlights:

• Total revenue for the period was Rs. 176.84 Crores, up 8% QoQ

• Consolidated EBITDA for the quarter was Rs.20.93 crores, down 14% QoQ

• Profit Before Tax (PBT) was Rs.15.22 Crores, down 17% QoQ

"We anticipated the slow uptick in keeping with market conditions, sustained investments in sales, practice realignment and leadership additions towards geography expansion," said Samir Shah, CEO, Aurionpro. "Additionally, there were a few deferments of certain large programs to subsequent quarters and growth has been muted. We continue to advance on our goals of transforming Aurionpro into a global brand offering innovative and quality solutions that help clients to accelerate their digital innovation agenda, securely and efficiently."

Q2 FY15-16 Business Highlights:

  • Digital Innovation offerings continue to see healthy demand. Aurionpro launched ACE (Aurionpro Customer Engagement) platform at Money 20/20, in Las Vegas, NV, USA
  • The sequential decline in EBITDA margins was due to increased investments in sales, practice alignment and geography expansion. Cost investments are expected to even out with higher return on investments over a period of 4-5 quarters.
  • Key management additions:
    • Naveen Mehta joined as Executive Vice President and Head of Europe
    • Josephine Too joined as Executive Vice President and Head of APAC
  • BFSI contributes to 68% of revenues and continues to remain the largest vertical. FinTech100 ranked Aurionpro amongst the top 100 providers of Financial Technology for the third year in a row.
  • As of end of Q2 FY15-16, company had 1442 employees with a gross addition of 181 new employees through the quarter.
  • Key client engagements and go-lives
    • Aurionpro won its first major Commercial LOS & CLIMS engagement with the largest bank in GCC area and thought leader in Middle East
    • Commenced a strategic relationship with Department of Excise (Daman & Diu Govt) in India for design, development, implementation, support and maintenance of Integrated Web-based Excise Revenue Management System
    • Aurionpro will serve as Customer Experience transformation partner and implement Interact DX, its ACE powered interactive statements product to help leading Indian Financial Services player to amplify customer experience through email, mobile, net banking, print and inbuilt CRM module
    • Company's SCM product suite won its first major client in Europe with a leading Italian based provider of integrated project and marine logistics solutions. Aurionpro's SCMProFit product would be implemented across all client sites and help accelerate Project Logistics and Freight Forwarding services focused on Oil and Gas energy sector
    • Aurionpro won its first major ForgeRock client for enterprise security in Australia with a leading supplier of Network Connectivity, Data Centre facilities and Cloud Services; also won a significant engagement with a healthcare provider for diagnostic, treatment and preventative care.
    • We helped a leading Payments company complete a brand transition of their company with newer UI strategy for their entire product that is powered by the Aurionpro Payments Platform (APF).

Outlook for H2 FY15-16: Aurionpro continues to drive strong growth driven by its products and domain expertise. The company continues to invest in building products that are focused on expediting innovation cycles for clients. Investments in building comprehensive platforms, such as ACE that was launched in Q2, are expected to drive business growth through second half of FY15-16 and future quarters.

About Aurionpro

Aurionpro Solutions (NSE: AURIONPRO) (BSE: 532668) is a global technology solutions leader that helps enterprises accelerate their digital innovation, securely and efficiently. We combine core domain expertise, thought leadership in innovation, security and leverage industry leading IP to deliver tangible business results for global corporations. Employing more than 1,400 domain and technology experts across North America, Asia and Europe, Aurionpro has been consistently recognized amongst the top 100 technology solutions providers for Financial Services companies. For more information, visit www.aurionpro.com.

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