Aurionpro Solutions Limited has announced its unaudited financial results for the quarter ended 30th June 2023, demonstrating robust performance and strong growth momentum in the business.
In the first quarter of FY24, the company achieved significant year-on-year (YoY) growth across its consolidated financial performance. Revenue increased by 36%, reaching INR 199 Crore compared to INR 146 Crore in the corresponding quarter of the previous year. EBITDA also showed a noteworthy growth of 33%, rising from INR 33 Crore to INR 44 Crore. Similarly, the Profit After Tax (PAT) recorded a YoY growth of 33%, amounting to INR 32 Crore compared to INR 24 Crore in Q1FY23.
In comparison to the previous quarter (Q4FY23), the company’s performance remained strong with a 4% increase in revenue, reaching INR 199 Crore from INR 191 Crore. The EBITDA grew by 10%, from INR 40 Crore to INR 44 Crore, and the PAT saw a substantial increase of 19%, reaching INR 32 Crore from INR 27 Crore.
The company’s financial results indicate positive performance across the board, with revenue growth standing at 36% on a YoY basis and 4% on a quarter-on-quarter (QoQ) basis. The YoY EBITDA growth was 33%, and the QoQ EBITDA growth was 10%, with EBITDA margins for the quarter standing at 22%. The YoY PAT growth was 33%, while the QoQ PAT growth was 19%, with PAT margins for the quarter at 16%.
Operational highlights include Aurionpro Payments, a wholly owned subsidiary, receiving in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator. Aurionpro Fintech, another subsidiary, launched the Revique Healthcare SAAS platform in the US market. The company also secured contracts with leading banks and financial institutions in Myanmar, the Philippines, and the Middle East, further expanding its presence in different markets.
Furthermore, in the technology innovation space, Aurionpro launched its first homegrown EMV Card Type Payment terminal (ECR-one) at the UITP Global Public Transport Summit in Barcelona and entered the Transit Solutions space in the Australian market with a contract from a leading transport agency in Canberra.
Mr. Ashish Rai, Vice-Chairman & Director, commented on the results, expressing satisfaction with the company’s continued strong growth momentum. He attributed the excellent performance to a favorable demand environment for the company’s core businesses, increased global competitiveness of its product and platform offerings, and disciplined execution from its R&D, Sales, and Delivery teams.
Looking ahead, the company remains optimistic about its growth prospects and aims to achieve a growth rate of 30-35% for FY24, building on its strong foundation and market positioning.
