Rolta eyes 15 pc profit growth, open to small-ticket buys | business | Hindustan Times
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Rolta eyes 15 pc profit growth, open to small-ticket buys

IT major Rolta is eyeing a 15 per cent-plus growth in its profits this fiscal and its revenue growth at between 12-15 per cent, a senior company official said.

business Updated: Aug 15, 2010 10:09 IST

IT major Rolta is eyeing a 15 per cent-plus growth in its profits this fiscal and its revenue growth at between 12-15 per cent, a senior company official said.

"We expect our profit to grow at over 15 per cent this fiscal which will be more than our expected revenue growth of 12-15 per cent," Rolta's Director-Finance & CFO, Hiranya Ashar, said in Mumbai.

The company's financial year ends on June 30.

The company is open to small-ticket acquisitions in the $5-20 million range and centres around IP to make its solutions robust, he said.

"We are constantly evaluating proposals but there is nothing concrete presently. We would be interested in acquisitions in north America," he said.

The company has already obtained an enabling resolution to raise up to $250 million, he said.

The outlook for this fiscal is bright, Ashar said, adding that the Indian market from which it clocks around 60 per cent of its revenue is faring well.

"The segments we are present in such as defence, Government, security, telecom and utilities are all doing well and hence, we are positive on this fiscal," he said.

The company expects its bottomline to be better than its top-line.

"Generally, the industry is seeing a lower profitability because of margin pressures but our margins are better," he said.

For FY 10, the company posted a consolidated revenue of Rs 1,532.67 crore, up 11.6 per cent from the Rs 1,372.81 crore of the year-ago period and a PAT of Rs 255.14 crore, down from the Rs 267.23 crore of the year-ago period.