AurionPro Solutions, a technology company, reported a consolidated net loss of Rs 1,418.8 million in the quarter ended March 2021 as against net profit of Rs 64.2 million during the previous quarter ended March 2020. Sales declined 0.05% to Rs 1,101.7 million in the quarter ended March 2021 as against Rs 1,102.3 million during the previous quarter ended March 2020.

For the full year, net loss reported to Rs 1,219.5 million in the year ended March 2021 as against net profit of Rs 319.3 million during the previous year ended March 2020. Sales declined 20.38% to Rs 3,740.2 million in the year ended March 2021 as against Rs 4,697.6 million during the previous year ended March 2020.

EBIDTA for Q4 stood at Rs. 237.5 million as compared to Rs. 226.4 million in Q3, posting about 5% growth quarterly basis. EBIDTA margin across all the quarters remained robust, the same was 21.06% during Q4 and 22.4% for FY 21 against 18% for FY 20.

PBT for Q4 (before exceptional items and impairment) stood at Rs 135.3 million against Rs 105.3 million last quarter, 43.6% growth Q-on-Q.

Commenting on the results and performance, Paresh Zaveri, Chairman & Managing Director of Aurionpro Solutions said, 'We are very happy with the sustained growth this quarter. While the year gone by was the most disruptive, it also offered the company an opportunity to reflect and re-assess its strategies. We adopted a three-pronged strategy to focus attention on our core high margin businesses, to undertake measures to improve operational efficiencies & cost rationalisation. The aim was to build robust operations with sustained revenue growth and profitability.

While initial COVID related lockdowns impacted us, reflecting impact on our top line, we were able to maintain almost the same EBIDTA in absolute terms despite dip in revenue. Our EBIDTA margins improved to 22.4%. We are confident to maintain margins in the current year with sustained quarterly revenue growth.

On the business front, despite significant initial impacts on kiosks business, Banking and Fintech remained resilient to clock healthy performance with 31.1% EBIDTA margins. During the year, we signed some large deals with the leading banks in APAC as well as large PSU banks in India. We are witnessing good momentum in this segment and strong outlook going forward.

The Smart City and Smart Mobility segment has continued to post improved performance on QoQ basis. The fresh surge of the pandemic in the domestic market may cause some delay in few new orders, however, momentum continues to remain strong in other markets. We have signed some key partnerships in this segment, which may boost our expansion in newer geographies, particularly in the developed markets. The increasing adoption of contactless, digital technologies coupled with strong resolve of the governments worldwide to increase capex on infrastructure has created huge market opportunities in this segment and we are confident of a strong rebound in this segment.

Commenting further he said, the exit from security business, while disappointing, is a game changer event. The proceeds from the deal would aid in moving the Company towards becoming net debt free over the next few quarters and start generating strong free cash going forward. Along with this exit, we have also taken a decision to have a one-time write off of intangible assets relating to our IP investments. This reflects our confidence in maturing of all our businesses while we continue to strongly invest in our product portfolio. Henceforth, we will be expensing out all our R&D and product development costs and are expecting to maintain strong and sustained growth in both revenue and profitability.

We have a slew of product launches planned this year, most importantly we will start launching cloud offerings for our Banking product portfolio. In mobility space, two new products launches are planned over next few months. This will cement our position as the most innovative player in the mobility business. Further, we will also be investing in creating a future offering of mobility as a service platform.

Additionally, our foray into data centre business is starting to bear fruits and will emerge as strong growth area for the company in coming years, with huge opportunities for this business in India and across other emerging markets. Expanding on our digital offerings, we also plan to expand this into offering hybrid cloud services to add to our data centre offerings. Recognizing the huge opportunities in digital solutions around our current offerings, we have combined our Smart city, Smart mobility and Data centre offerings under a single SBU of Tech Innovation Group (TIG).

With streamlined balance sheet, we expect significant improvement in all the financial ratios this year onwards and with strong growth ahead, generating free cash and efficient management of capital, we expect to have a lean & healthy balance sheet supporting our long term growth vision.'

Shares of the company declined Rs 2.85, or 1.83%, to trade  at  Rs 152.90.  The total volume of shares traded  was  86,356 at  the BSE (3.30 p.m, Friday).