Rolta India Income Up 18 Per Cent To Rs 301 Cr

Mumbai, Aug 30 | Updated: Aug 31 2004, 05:41am hrs
Rolta India has posted an 18 per cent y-o-y annualised growth in total income for year ended June 2004 to Rs 301 crore.

PBT increased by 11 per cent to Rs 91 crore, while PAT stood at Rs 81 crore.

Rolta Group chairman and CEO Kamal Singh clarified that the Sebi order issued to the company and the I-T investigation carried out about a month ago, were unrelated events.

Mr Singh explained that Rolta India had a practice of including some of its employee-related infrastructure expenditure in its sales figure.

Sebi had observed that the practice could confuse the investor about the real topline figures. The company has subsequently discontinued this practice.

Mr Singh elaborated that the I-T departments investigation was to verify the actual export capacity of the company.

He added that nothing was confiscated by the department and they do such investigations in other companies too. Rolta plans for a capex of Rs 75-120 crore over the coming year and is also setting up a 2,50,000 sq feet facility near its present complex in Andheri.

They plan to add another 1,000 employees this year.

Roltas JV with Stone & Webster, will provide services in process plants in the engineering and refining sectors.

The company is in talks with companies like IOC, ONGC and Essar for this business.

Rolta is also in talks with international companies for possible JVs in mechanical design and GIS areas and some concrete steps will be taken by the end of this fiscal, Mr Singh added.