Ashish Rai, Vice-Chairman & CEO: We will be able to significantly scale our businesses globally
FinTech BizNews Service
Mumbai, 26 October, 2023: Aurionpro Solutions Limited (BSE: 532668) (NSE: AURIONPRO), has announced its unaudited financial results for the quarter and half-year ended 30th September, 2023. The Company has posted strong YoY performance and the Company remains on track to meet the guided performance targets for FY 24.
Consolidated Financial Performance for Q2FY24 v/s Q2FY23 (Corresponding Year)
Consolidated Financial Performance for H1FY24 v/s H1FY23 (Corresponding Half-Year)
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Results Highlights:
Operational Highlights:
Banking & Fintech
Technology Innovation Group
Management Commentary
Ashish Rai, Vice-Chairman & CEO, said: “These results and the exceptionally strong demand pipeline provide great validation of our chosen long-term strategy to create a differentiated, global products and platforms player. The revenue for H1 FY24 stood at INR 410 crores and PAT at INR 66 Crores, an increase of 37% and 34% respectively compared to the corresponding period last year. This strong business performance gives us the ability to keep stepping up our investments in ground-up R&D as well as selective M&A, while maintaining industry leading EBITDA and PAT margins of 22% and 16% respectively. This performance is largely the result of an exceptionally disciplined execution from our 2000+ team members who have really raised the bar on what it means to be an innovative, R&D led tech organization that creates value through products which can compete and win globally. Our sales channel expansion over the last 4 quarters is already exceeding expectations, with some truly exceptional sales talent choosing Aurionpro to come and do their best work. We also continue to lead Indian tech industry in creating new and unique solutions jointly with global Fintech providers by licensing Aurionpro technology to work together with other industry leading products and platforms. These collaborations set us up very well to influence the direction our industry evolves in while driving our growth sustainably over the long run.”
The company isscaling up both the organizational framework as well as the capacity to support this growth well into the future. This involves significant new investments in talent to support its R&D ambitions as well as the increased delivery pipeline. Ashish Rai indicated: “We will continue to supplement this organic growth with highly focused acquisitions where we find complimentary products and talented management teams who prefer to partner with Aurionpro to accelerate our combined journeys. We announced the acquisitions of Interact DX and Omnifin in the last two months and both these acquisitions fit perfectly in terms of filling identified gaps in our offering portfolio as well as scaling Aurionpro’s talent base with exceptionally talented specialized teams which are the best in their respective business. What’s more important for us is that we have the opportunity to partner with exceptionally high-quality management at these firms who share our aspiration of creating a truly global products and platforms provider that can lead the industry. We are very confident that we will be able to significantly scale both these businesses globally and they will allow us to deepen our relationship with our existing clients. We feel we are comfortably placed to achieve our growth guidance for FY24 and continue our growth trajectory into the next year”.
