Aurionpro Continues High Growth Trajectory with Strong Q3 FY24 Results: Revenue grows 37% YoY, PAT surges 45% YoY

Q3 & 9M FY24 Financial Results & Business Updates

Mumbai, February 05th, 2024:

Aurionpro Solutions Limited (BSE: 532668) (NSE: AURIONPRO), announced its unaudited financial results for the quarter and nine months ended 31st December, 2023. Building on this robust Year-over-Year performance, the Company stands firmly positioned to achieve the guided performance expectations for the fiscal year 2024.

Results Highlights:

• Revenue for the quarter stood at INR 231 Cr, a growth of 37% on a YoY basis
• EBITDA for Q3FY24 stood at INR 51 Cr as compared to INR 37 Cr in Q3FY23, a growth of 38% on a YoY basis. EBITDA margins for the quarter stood at 22%
• PAT for Q3FY24 stood at INR 38 Cr, which is a growth of 45% on a YoY basis. PAT margins for the quarter stood at 16%

Operational Highlights:
Banking & Fintech

• Integro Technologies Wins Chartis RiskTech 100 – 2024 Award for Best Limits Management Software, in the category of Lending Operations.
• Aurionpro wins “Best Transaction Banking Implementation: Most Impactful Project” award at the 5th IBS Intelligence Global FinTech Innovation Awards.
• Aurionpro wins new order from one of the largest Public Sector Banks in India to supply, install, implement, customize and maintain iCashpro+, our Cash Management Solution.
• India’s leading private sector bank, successfully implements Aurionpro’s AuroFX, an advanced FX automation tool covering the full range of branch FX operations.
• Aurionpro completes strategic acquisition of Omnifin®, loan management system, from A S Software Services Pvt. Ltd to complement and enhance its portfolio of industry leading Lending Solutions.

Technology Innovation Group

• Aurionpro Transit, an Aurionpro subsidiary in transit business, announces partnership with MasterCard to provide commuters with a next-generation contactless payment method for public transport.
• Aurionpro Transit and Vix Technology announces partnership to launch Next-Gen Mobility Solutions. As part of this collaboration, Aurionpro Transit will design and develop state-of-the-art All-in-One Driver Console and Mobile Data Terminal, innovative in-bus solutions which will streamline transit operations by providing a central on-vehicle hub for various functions from ticketing to communications.
• Aurionpro signs multiple new wins in Data Centre segment which includes orders from the leading telecom company in Bhutan, a premier public research university and technical institute in India and expansion of an existing data center in Odisha.
• Aurionpro Transit expands in Australian market, wins further orders from the leading transport agency in Canberra, the existing client in the market.
• Aurionpro Transit expands in Mexican market with a new order for the automated gates for the transport agency in the city of Merida, Mexico.

Management Commentary
Mr. Ashish Rai, Vice-Chairman & CEO said:

“We are pleased to see continuing strong growth across both our major segments in Q3 and 9M FY 2024. Our 9M results showcase robust performance, with revenue reaching INR 641 crores and PAT at INR 103 crores—both increasing by 37% compared to the corresponding period last year. These results highlight the sustained strong growth momentum in the business, reinforcing the achievability of our long-term growth ambitions. As we approach the end of FY 24, we feel confident in meeting or exceeding our guided performance target for the year.

The recent quarter saw a significant uptick in deal activity, marked by the acquisition of substantial orders across our key segments. This significant win momentum will not only power our future growth but it also enhances our market position and credibility with global clients. The ongoing strong demand environment across our major offerings, reinforces our confidence in sustaining this growth trajectory and our immediate focus will be on continuing to scale our execution capabilities to capitalise on this demand.

The impressive performance in Q3 and over the years is a testament to the capability and dedication of our product and delivery teams across the globe. We remain committed to strengthening our sales, delivery, and R&D capabilities to sustain current growth momentum and ensure continued success.

Our expansion strategy adopts a multi-pronged approach, focusing on building a robust direct sales channel and forming strategic partnerships to maximise the market reach and impact for our continuously expanding portfolio of industry leading offerings. Recent key partnerships in the Transit segment and the acquisitions of Omnifin and Interact DX in the banking segment underline the strong execution of our growth strategy, emphasizing both organic and inorganic growth to penetrate our chosen markets.

Our capability to achieve the long term growth ambitions that we outlined in Vision 2030 is driven by strong and disciplined execution in building industry leading offerings through cutting edge ground up R&D as well as through proactive M&A and strategic partnerships where appropriate. Our order book now exceeds INR 900 crores and with the demand environment remaining exceptionally strong for our key offerings, we feel we are well positioned to sustain our strong growth trajectory in the upcoming quarter.”