MUMBAI, INDIA--(Marketwired - November 14, 2016) - Aurionpro Solutions Ltd (NSE: AURIONPRO) (BSE: 532668), a provider of technology solutions for Banking, Digital Innovation and Enterprise Security, announced its financial results for the second quarter ended Sep 30, 2016.
Q2 FY16-17 Financial Highlights
- Total revenue for the period was Rs. 165.49 Crores, up 16.6% QoQ
- Consolidated EBITDA for the period was Rs. 17.27 Crores, up 15.7% QoQ*
- Profit After Tax (PAT) was Rs. 5.43 Crores*
* After deduction of one-time non-cash expense of Rs 4.96 Cr pertaining to Employee Stock revaluation during Spikes acquisition, Foreign Currency Translation loss of Rs.3.03 crores and Rs.1.25crore towards amortization of Goodwill on account of merger of Spikes Security.
"We had a better performance in this quarter as compared to the previous one. While slowdown in enterprise security business and investment in our Isla platform continues, growth in our digital innovation and government business was quite strong," said Samir Shah, CEO, Aurionpro.
He added, "During the quarter we completed the acquisition of Spikes Security. This has resulted in a lower PAT margin due to both product development costs and non-cash charges. We expect our ISLA product will be a game changer for the Malware protection area within the enterprise security domain, and we are extremely bullish on its future. To further signify our focus, during the quarter we rebranded our enterprise security business under the name - Cyberinc. As our investment in IP in this unit matures we expect stronger growth momentum next year. Our other core businesses are strong and we expect continued strong momentum in our banking, digital innovation and government services businesses."
Q2 FY 16-17 Business Highlights.
- Completed the acquisition and subsequent merger of Spikes Security with Aurionpro's Security Division and launched Cyberinc - a dedicated subsidiary focused on Enterprise Security. The business has seen strong market traction since launch.
- We completed the largest IAM engagement and 1st IAM product deployment at a large financial ratings company
- We had multiple strong wins in US, UK & Australia for IAM delivery with our several partners including SailPoint, Ping and ForgeRock.
- We also completed went-live with some significant engagements for Fortune 500 clients.
- We continue to invest in building IP and solutions that aid differentiated value delivery to clients for modernizing their IAM systems.
- Signed an agreement with Imageware to integrate their Multimodal Biometric Authentication technology with Aurionpro's Digital Branch DX - multi-service Kiosk.
- Our SCMProFit solution will power Publiship's freight forwarding business with its unique multi-modal solution that caters to Sea, Air, and Land-based shipments; we also had a first customer win in UK for our SCMProfit solution this quarter
- Won a major deal with a Sri Lankan Bank for Interact DX. We have expanded their relationship with Aurionpro at an enterprise level by being a preferred partner of choice for the consumer communication initiatives.
- We had 5 important wins and 2 client go-lives for our Interact DX product in UK, India and Sri Lanka
Key Financial Highlights
- Geography wise, US generated 34% of revenues, India generated 36% of revenues, rest of the world generated 23% of revenues and Europe generated 7% of revenues
- Enterprise Security business generated 37% of revenues, Digital Innovation generated 27% of revenues and Banking and Fintech generated 13% of revenues. Government revenues from India were 22% of revenues.
Aurionpro Solutions (NSE: AURIONPRO) (BSE: 532668) is a Aurionpro is global technology solutions leader that helps clients accelerate their digital innovation, securely and efficiently. We combine core domain expertise, thought leadership in innovation, security and banking, to leverage industry leading IP, and deliver measurable business results for global corporations.
With revenues of over $115MN USD and employing more than 1,300 experts across North America, Asia, and Europe, the company has been named among the top 100 technology companies for Financial Services worldwide in 2015. For more information, visit www.aurionpro.com.