Revenue and margin expansion driven by focus on IP driven growth
Saturday, December 09, 2017, Mumbai, India
Aurionpro Solutions Ltd (NSE: AURIONPRO) (BSE: 532668), a leading provider of technology solutions for Banking, Digital Innovation and Cybersecurity, today announced its consolidated financial results for the second quarter ended September 30, 2017.
H1 FY17-18 Financial Highlights
IP driven strategy has led to margin expansion as is demonstrated in growth of EBIDTA & PAT. Key highlights for the first half of FY17-18 are:
- YTD Revenue for H1 FY17-18 was 329.06 Crores, up 6.57% YOY
- Consolidated EBIDTA for H1 FY17-18 was Rs.56.23 Crores, up 43.20% YOY
- Consolidated PAT for H1 FY17-18 was 27.23 Crores, up 76.31% YOY*
- Debtor’s days has come down from 112 to 76 (H1 FY16-17 to H1 FY17-18)
*excluding exceptional items
“Our business model continues to remain strong and our strategy to focus on IP driven businesses, while exiting low margin services is bearing results. This has led to continuous improvements in operating margins, new customer additions and geography expansion. We continue to make ongoing investments in R&D & product development.”, said Samir Shah, CEO, Aurionpro, “We expect accelerated momentum in the second half of the year aided by growing momentum for Isla, our flagship product offering in cybersecurity, We have taken Isla to newer geographies in APAC and are looking to scale to global markets aided by strategic partnerships such as our recent one with HPE, and others.”
“We are focused on building efficiencies through superior delivery excellence. We have improved our implementation methodologies and domain training leading to faster deployments and customer delight. We have also rationalised our technology platforms and people pyramid for optimal resource utilisation thereby reducing delivery costs. This has enabled us to expand margins while continuing our investments in product and R&D.” added Nirav Shah, COO, Aurionpro.
Business Updates & Highlights
- Isla Web Malware Isolation system shows strong promise and positive momentum across the globe as Malware Isolation is increasingly finding priority in the agenda of CIOs and CISOs.
- Isla has gained strong market acceptance and has over 40 customers currently.
- Isla’s channel partner has grown in strength with over 15 strategic partnerships for manufacturing, distribution and resellers globally.
- We had two big wins for Isla in India with large financial services organizations. Other countries in APAC also have seen strong demand and traction for Isla.
- Gartner recognized Aurionpro’s cybersecurity subsidiary Cyberinc as continuing to be amongst its Gartner Cool Vendor list that it published in 2017.
- The IAM practice saw multiple wins and go-lives specifically for its IP with licensing deals with a US based utility provider in addition to two large implementation engagements for IAM. Our IAM practice was also included in the ‘Gartner Market guide for IAM professional services ‘providers report.
Banking and Fintech
- The banking and fintech business continues to be on target to meet financial targets as we have been steadily consolidating our leadership position across India, Middle East and ASEAN region with multiple wins and go-lives.
- Go-live for Financial Supply Chain module with South Indian Bank.
- Go live at Union National Bank
- Win for SmartLender with Sacombank, Vietnam.
- The customer experience offerings led by our flagship platform ACE see strong traction especially in the middle east. We have won an engagement with a UAE bank to streamline customer flow across 42 branches while we also went live with 19 bill payment kiosks for a utility provider in Oman. The business continues to enable strong market share expansion.
- Interact DX, was selected by 3 leading Indian private sector banks and a middle east headquartered Telco company.
Aurionpro Solutions (NSE: AURIONPRO) (BSE: 532668) Aurionpro is a global technology solutions leader that helps enterprises accelerate their digital innovation, securely and efficiently. It combines core domain expertise, thought leadership in innovation, security and leverages industry leading IP to deliver tangible business results for global corporations. Employing more than 1,200 domain and technology experts across North America, Asia and Europe, Aurionpro caters to a host of clients across BFSI, Telecom and Logistics industry.
For more information, visit: www.aurionpro.com.