Aurionpro Solutions surges 16%, hits 52-wk high on robust June quarter nos

Shares of Aurionpro Solutions surged 16 per cent at Rs 238, also its fresh 52-week high, on the BSE in the intra-day trade on Monday after the company reported a robust set of numbers for the quarter ended June 2021 (Q1FY22). In the past one month, the stock of the information technology (IT) software products company has zoomed 64 per cent, as compared to a 0.27 per cent rise in the S&P BSE Sensex.

In Q1FY22, Aurionpro Solutions’s consolidated net profit jumped 288 per cent year on year (YoY) at Rs 15.4 crore as against Rs 4 crore in Q1FY21. Consolidated revenue grew 54 per cent at Rs 115.8 crore from Rs 75.2 crore in the year-ago quarter. Revenue growth on a sequential basis stood at 5.1 per cent signifying sustained growth trajectory, the company said.

Ebitda (earnings before interest, taxes, depreciation, and amortization) margin for Q1FY22, however, stood at 21.1 per cent as compared to 21.9 per cent in Q1FY21.

"The performance is particularly impressive in the backdrop of the disruptions caused due to the second wave of the Covid-19 in domestic market and continued shutdowns in South East Asian countries," the management said. It expects to maintain growth trajectory, both in sales and profitability, going forward.

Aurionpro said it won order from one of the leading banks in Sri Lanka for the enhancement of the transaction banking platform. "Besides, one of the leading banks in Singapore announced successful rollout of the SmartLender collateral and limits management for all the 11 International branches. In CE business, one of the largest public sector banks in India went live where the company has successfully installed and implemented KIOSKs," it said.

With solid performance and strong cash flows, the company plans to become net debt free by October this year. Additionally, new product offerings are slated in coming quarters which include launch of a new product in transit space and cloud based offering of the company’s banking products, it said.

On the business front, Banking and Fintech segment witnessing a good traction in all the regions. There is a healthy order book and a robust pipeline and with upcoming cloud launches we expect better traction and stronger momentum going ahead, the management said.

At 11:37 am, the stock was trading 11 per cent higher at Rs 227.80 on the BSE, as compared to a 0.04 per cent rise in the S&P BSE Sensex. Trading volumes on the counter more-than-doubled with a combined 727,815 shares having changed hands on the NSE and BSE till the time of writing of this report.