ROLTA INDIA Ltd, 01-OCT-2008 to 31-DEC-2008 (Third Quarter)Results:
Rolata India Ltd has announced the consolidated Results for the quarter ended on 31-DEC-2008 as follows: Net Sales of Rs.3619.40 million for the quarter ending on 31-DEC-2008 with Net profit of 603.70 million with an EPS of 3.80. Other Income was at Rs.91.10 million and Total expenditure was Rs.2771.10 million.
ROLTA INDIA One of India’s leading engineering and IT companies announced the acquisition of Piocon Technologies, Inc. of Chicago, II, USA. Through this strategic move, Rolta India has acquired a unique template-based solution that addresses critical operational needs of refineries in the Oil & Gas sector. This solution is field proven, and has been deployed successfully in multiple refining facilities of one of the world’s largest oil companies.
The Piocon solution is based on the Institute of Nuclear Power Operations (INPO) AP-913 standard, which was originally developed to ensure equipment reliability within the nuclear power industry, but is now widely accepted by other process industries. Therefore, this solution is eminently suited to be extended beyond refinery operations to up-stream and down stream operations in Oil & Gas, and to other industry segments like petrochemicals, mining, power, and especially highly regulated sectors like pharmaceuticals and nuclear power.
The Piocon acquisition is a part of Rolta’s systematic growth plans to provide configurable solutions that address the real challenges faced by industry today.
Based on the above news the stock saw up move today, with India and US singing nuclear deal and company getting its self ready to face the new challenges one can consider investment in the company with long term view.