IT solutions Rolta India today reported around nine per cent increase in consolidated net profit at Rs 73.14 crore for the fourth quarter ended March 31, 2013.
The company had posted a net profit of Rs 67.28 crore in the year-ago period, it said in a BSE filing.
The consolidated net income of the company rose to Rs 569.96 crore in the January-March quarter of 2012-13 fiscal against Rs 426.15 crore in the same quarter of 2011-12 fiscal.
Commenting on the results, KK Singh, Chairman and Managing Director of Rolta India said: “The company has substantially completed its transformation from a services business to an IP-driven product and solutions business.”
The investments made for this evolution have begun to bear fruit, as is evident from the encouraging traction being experienced for Rolta’s solutions in all geographies, he added.
For the nine months ending March 31, 2013, Rolta’s consolidated net profit fell to Rs 194.55 crore from Rs 242.29 crore in July-March period of 2011-12.
Its consolidated net income also declined to Rs 1,383.69 crore from Rs 1,828.79 crore during the same period.
The company is engaged in a project, funded by the US Trade and Development Agency, to develop a sophisticated traffic and environment management solution to monitor multiple parameters in real-time for the City of Nanjing, China in preparation of the upcoming Youth Olympics.
Besides, Rolta won a contract for spatial adjustments for field assets in support of a Smart Grid initiative at a large utilities company in southeast United States and has also won a contract for development and implementation of a comprehensive GIS system for the Saudi Arabia.
Rolta provides IT solutions for vertical, including governments, defence, utilities, process, power, financial services, manufacturing, retail, and healthcare.