Rolta India soars on strong March quarter results

The stock has soared 15% to Rs 104 on the back of heavy volumes on the National Stock Exchange.

Rolta India has soared 15% to Rs 104 after reporting a strong 90% year-on-year jump in consolidated net profit at Rs 139 crore for the quarter ended March 31, 2014, on the back of higher operational income. The internet software and services firm had reported a profit of Rs 73 crore in the same quarter last fiscal.

Income from operations nearly doubled to Rs 1,115 crore from Rs 570 crore in the corresponding quarter of the previous year, Rolta India said in a statement.

We grew the business not only in quantitative terms but also qualitatively," said Rolta Chairman and Managing Director K K Singh.

With good traction in all geographies for our IP-led solutions and services in every vertical that we serve, we are now getting much larger orders, including licences for Rolta IP and annuity revenues, he adds.

The stock opened at Rs 94 and touched a 52-week high of Rs 109 on the NSE. The counter has seen huge trading activity, with a combined 6.06 million shares changing hands till 1355 hours against an average sub-2 million shares that were traded daily in the past two weeks on NSE and BSE.