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Q3 / 9M FY23 Financial Results & Business Updates

 

Mumbai, January 24, 2023

Aurionpro Solutions Limited (BSE: 532668) (NSE: AURIONPRO), announced its unaudited financial results for the quarter ending 31st December, 2022.The Company has posted robust YoY performance and these results demonstrate strong momentum in the business.

Results Highlights:

  • Q3FY23 saw strong growth on a YoY basis. Revenue for the quarter stood at INR 169 Cr, a significant growth of 30% on a YoY basis and 9% on a QoQ basis. This is in line with the company’s outlook for FY23 of around 30% growth.
  • EBITDA for Q3FY23 stood at INR 37 Cr as compared to INR 30 Cr in Q3FY22, a growth 23% on a YoY basis and 6% on a QoQ basis
  • PAT for Q3FY23 stood at INR 26 Cr, which is a growth of 30% on a YoY basis. On a QoQ basis, PAT grew by 4%
  • EBITDA and PAT margins in Q3FY23 stood at 22% and 16%, in line with the same quarter last year
  • On a nine month basis, the company has posted a revenue of INR 469 Cr which was higher by 27% on a YoY basis
  • EBITDA & PAT for 9MFY23 was higher by 30% & 39% respectively on a YoY basis
  • EPS for Q3FY23 stood at INR 10.97 and for 9MFY23 it stood at INR 31.69, which was an increase of 40% on a YoY basis

Operational Highlights:
Banking & Fintech

  • Launched AuroDigi, a next generation, digital banking engagement platform that delivers a unified experience to corporate customers ensuring reliability, security, and configurability.
  • Aurionpro Fintech Inc., an Aurionpro subsidiary in the US, wins significant order from one of the largest payment facilitators in the US.
  • Aurionpro Payments Singapore launches ‘AuropayBiz’, its unique business payments platform and signs partnerships with global leaders, ‘Stripe Payments’ and ‘FIS Worldpay’
  • Aurionpro’s SME platform Aurobees signs partnership with BSE E-Agricultural Marketing Ltd. (BEAM) to enable the SMEs and corporates on BEAM.
  • Aurionpro deepens engagement with Murex customers in India with a strategic order win from one of the largest private sector banks in India.

Technology Innovation Group

  • Hon’ble President of India, Smt Droupadi Murmu launches open loop ticketing system powered by Aurionpro for the HSRTC, Government of Haryana.
  • Hon’ble Prime Minister of India, Shri Narendra Modi, inaugurates next phase of Nagpur Metro. Aurionpro provides open loop ticketing system to Nagpur Metro.
  • SC Soft, an Aurionpro subsidiary, launches “tap and go” EVM Open Loop Payment Solutions in Maldives, in partnership with MasterCard and MTCC.
  • Aurionpro is selected as DC Design Consultant for a prestigious Tier IV Data Center Project for a leading financial institution in India.

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

“I am happy to report revenue growth of 30% and PAT growth of 30% for the quarter. Our 9-month revenue and PAT growth are 27% and 39% respectively, this performance reflects continued growth momentum thanks to disciplined execution from our teams in the face of large demand growth across our key offerings. During the quarter, we saw a healthy topline increase for our key business lines and we remain on track to grow full year revenue around 30% with an even stronger growth in earnings for the year.

The quarter also saw a robust growth in pipeline and wins, including our largest win in US till date and the order book now stands at INR 760 Cr. Some of the execution challenges faced in Q2 on account of supply chain disruptions and currency fluctuations have also now been resolved and this will result in improved cash flows and strengthened balance sheet in the second half. We enter the last quarter with confidence and expect growth momentum to continue into next year.

During the last two quarters, we have invested significantly in attracting talent and expanding capacity with over 400 additions to our employee base in the period, finishing Q3 with over 2000 proud Aurionproites. As our IP evolves and matures, we have undertaken significant expansion in our sales force with some highly experienced and well-regarded sales leaders joining us across India, S.E Asia and US. I am confident that this will significantly deepen our leadership pool and overtime contribute to accelerating our growth momentum. We will continue to ramp up our sales and delivery capabilities and will double down on being the most attractive place for the best talent in the industry to join and do their best work.”

About Aurionpro Solutions:

Aurionpro Solutions Limited (NSE: AURIONPRO) (BSE: 532668) is an advanced technology solutions company catering to the needs of Banking, Mobility, Payments and Government sectors. We converge multiple technology solutions under our umbrella, acting as one platform for Advanced and Accelerated Platform-led Transformation, guiding businesses to ADAPT to a new paradigm in Digital. Headquartered in Mumbai, India, we are bringing this to reality across global locations, pillared on the expertise and commitment of 2000+ passionate people supporting the Aurionpro journey. For more information, visit www.aurionpro.com

For further information, please contact:
Adfactors PR ltd
Aashvi Shah
Tel No: 9821043389
Email: aashvi.shah@adfactorspr.com

Aurionpro Solutions Ltd
Ninad Kelkar
investor@aurionpro.com
www.aurionpro.com

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