Mumbai, Maharashtra India (PressExposure) November 21, 2011 -- Financial Highlights:
Consolidated revenue for the half year is Rs. 230.58 crores and for the Quarter ended September 30, 2011 is Rs.112.88 crores. Compared with the first half 2010-11 Rs. 201.60 crores and with second quarter 2010-11 Rs.104.66 crores, this represents an annualized growth rate of 14.38 % and 7.85 % respectively.
Consolidated EBIT for the half year is Rs. 39.19 crores and for the Quarter ended September 30, 2011 is Rs.17.66 crores.
Consolidated net profit for the half year is Rs. 20.87 crores and for the Quarter ended September 30, 2011 is Rs.10.61 crores.
As a result, the EPS (Diluted) for the half year ended is Rs. 13.10 and for the Quarter ended30th September, 2011is Rs.6.66.
Consolidated performance includes numbers standalone and for all subsidiaries of the Company for the quarter, including aurionPro Solutions Pte. Ltd., Singapore, Integro Technologies Pte Ltd, Singapore, Integro Technologies SDN. BHD, aurionPro Solutions INC, USA, Aurionpro SCM Inc, USA , aurionPro Solutions SPC, Bahrain, E2E Infotech Limited, UK, aurionPro Solutions (Hong Kong) Limited, Auroscient Outsourcing Limited, India, Aurofidel Outsourcing Limited, India, SENA Systems Pvt Ltd, India, aurionPro Solutions PTY Ltd, Australia, aurionPro SCM Pte Ltd, Singapore, Kairoleaf Analytics Pte Ltd, Singapore in the quarter ended 30th September, 2011.
Business & Operations Highlights:
The first six months of aurionPro's fiscal year has included both strategic milestones that will benefit the Company in subsequent periods, as well as certain challenges due to increasingly strained economic conditions across geographies and industries. The significant challenges in the marketplace that are transpiring continue to have a short-term impact on aurionPro's aggressive growth plans. To address these challenges, strategic restructuring activities have been initiated to minimize the effect and to position aurionPro's businesses more effectively for the future.
Commenting on the performance over the previous quarter, Banesh Prabhu, CEO and Chairman of the Board of aurionPro, said, "Although the economic conditions have slowed the growth targets of some of our Business Units, aurionPro continues to be recognized by our clients, partners, and industry analysts as a company that positively improves the efficiencies and competitiveness of our customers through the implementation of our technology solutions."
In the first half of the year, aurionPro has demonstrated our commitment to the highest quality of delivery standards, achieving the SAS70 Type I certification for our Pune, India Software Delivery Center as well as the continuation of our ISO 9001:2008 certification. Independent auditors carried out the assessments and have provided both certifications.
aurionPro also initiated a new practice during the previous quarter, focused around application modernization. This team will be led by Bob Regan, who recently joined aurionPro after running mission critical functions at engineering and management levels for Barclays Capital, Lehman Brothers, Merrill Lynch and Bankers Trust. Bob most recently led one of the most complex and successful application modernization programs for a leading global Financial Services Institution, and brings over 20 years of IT experience to improve aurionPro's clients' efficiencies and competitiveness through the replacement of aging and uneconomical infrastructure.
All aurionPro business units continue to be extremely active with their respective partners and several key co-marketing events have been executed successfully during the last quarter. One highlight was co-sponsoring the Barclays FedEx Cup event in Edison, NJ in August. Participation in this event, which also benefited local charities, was a way to show our appreciation to our customers and partners by providing them with six days of world-class golf. Two new partnerships have also been initiated recently, with EMC and with Salesforce.com, both of which will enable aurionPro to increase the breadth of our services offered while extending our reach into larger customer sets through co-positioning activities. aurionPro restructured some of the businesses in the Middle East in Bahrain and handled the related financial implications of the recent turmoil by moving key portions of project delivery to India to continue to support clients most effectively.
aurionPro's Supply Chain Management Business Unit has also made significant investments in a partner-driven initiative over the last 2 quarters. During that time they have successfully replatformed the SCM Profit product line, an industry-leading suite of supply chain management solutions, on to the Microsoft Windows Azure Platform. The Microsoft cloud capabilities provides global scale and reach while enabling aurionPro's Product Development team with the ability to quickly deploy new business capabilities. This groundbreaking logistics solution is being adopted by many of our existing customers, many of whom will have migrated over to the new version before the end of 2011. aurionPro will continue to invest in our partnership with Microsoft and have aggressive plans to continually add new capabilities to the product suite in the cloud. Along with the new Azure cloud-based solution, aurionPro has also released a "track & trace" app for the iPhone that can be downloaded free by all of the product's users. Focus on providing the best business solutions on top of leading-edge technology platforms will enable aurionPro to continue to provide the most innovative and cost-effective solutions to our client base.