SOURCE: aurionPro Solutions

Aurionpro

February 10, 2015 02:00 ET

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

MUMBAI, INDIA--(Marketwired - February 10, 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 soft quarter 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 Solutions Ltd. 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 domain focused technology solutions to complex business needs of Fortune 1000 companies. With revenues over 100+ MUSD 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. For more information, visit www.aurionpro.com.

Contact Information

  • For further information, please contact:
    Aurionpro
    Tel: +1-925-242-0777
    Email: Email contact

    Investors:
    Mehul Raval
    Company Secretary
    Tel: +91 22 66172706
    Email: Email contact