IT major Rolta India today said it is eyeing IP-driven acquisitions and is working on a couple of deals in the geospatial information systems (GIS) space.
"We are looking at a couple of small acquisitions in the GIS space--these will be small in size--in the range of $2-10 million," Rolta Director (Finance) and CFO Hiranya Ashar told PTI.
The acquisitions are likely to be concluded over the next two quarters, he said, adding "they will be funded through internal accruals".
At present, there are no fund-raising plans. The company, however, has an enabling resolution to raise $150 million, he said.
In Q2, Rolta's consolidated revenue rose 17.5 per cent at Rs 441.15-crore as against Rs 375.56-crore in the year-ago period, while its consolidated net profit (excluding exceptional gain) increased 24.4 per cent to Rs 78.11 crore as against Rs 62.79-crore in the year-ago period.
"Q2 has been a reasonably good quarter for us with our geospatial segment driving growth," Ashar said.
Its IT business has also picked up with the US economy on recovery. "Europe is still slow but most of our business is in the US," he said.
On its engineering business, Ashar said it was growing at 10-12 per cent, while its other businesses were growing at 15-20 per cent. "It will take a few more quarters for our engineering business to kick-in with the same kind of growth," he said.
On the future outlook, Ashar said it was good and the company is poised to grow at 12-15 per cent in both its top and bottom lines.
"Our bottom line should grow healthily -- most of our investments are done and now we are trying to monetise our investments and IPs. We are aiming at a 15 per cent solid, healthy and qualitative growth," he said.
