Rolta eyeing small-sized acquisitions over next 2Qs
Mumbai, Jan 31 (PTI) IT major Rolta India is eyeingIP-driven acquisitions and is working on a couple of deals inthe geospatial information systems (GIS) space.
"We are looking at a couple of small acquisitions inthe GIS space--these will be small in size--in the range ofUSD 2-10-million," Rolta''s Director Finance and CFO, HiranyaAshar, told PTI here today.
The acquisitions are likely to be concluded over thenext two quarters, he said, adding "they will be fundedthrough internal accruals."
There are no fund-raising plans presently. Thecompany, however, has an enabling resolution to raise USD150-million, he said.
In Q2, Rolta''s consolidated revenue rose 17.5 per centat Rs 441.15-crore as against Rs 375.56-crore in the year-agoperiod while its consolidated net profit (excludingexceptional gain) increased 24.4 per cent to Rs 78.11-crore asagainst Rs 62.79-crore in the year-ago period.
"Q2 has been a reasonably good quarter for us with ourgeospatial segment driving growth," Ashar said.
Its IT business has also picked-up with the US economyrecovering. "Europe is still slow but most of our business isin the US," he said.
On its engineering business, Ashar said it was growingat 10-12 per cent while its other businesses were growing at15-20 per cent. "It will take a few more quarters for ourengineering business to kick-in with the same kind of growth,"he said.
On the future outlook, Ashar said it was good and thatthe company is poised to grow at 12-15 per cent in both itstop and bottomlines.
"Our bottomline should grow healthily--most of ourinvestments are done and now we are trying to monetise ourinvestments and IPs. We are aiming at a 15 per cent solid,healthy and qualitative growth," he said.