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Aurionpro Solutions share zooms 4% on order win from 'leading bank in India'

Aurionpro Solutions share zooms 4% on order win from 'leading bank in India'

The company has been selected as service provider for the procurement and for providing techno functional support of the murex application at Bank’s site

Aurionpro Solutions share zooms 4% on order win from 'leading bank in India' Aurionpro Solutions share zooms 4% on order win from 'leading bank in India'

Shares of Aurionpro Solutions rose 4 per cent to hit an intraday high of Rs 224.45 on BSE after the company announced that it has bagged an order from one of the leading banks in India.

The company has been selected as service provider for the procurement and for providing techno functional support of the murex application at Bank’s site. "Auriopro has built a team of technical experts with requisite experience, skills & training for providing services in connection with murex application," the company said.

The stock opened per cent higher at Rs 220.00 against the previous close of Rs 215.90 on BSE. The share touched its 52-week high of Rs 238 on July 26, 2021, and a 52-week low of Rs 45.50 on August 3, 2020.

It has delivered 332 per cent return in one year and risen 128 per cent since the beginning of this year. With a market capitalisation of Rs 488 crore, the share stands higher than 5 day, 10 day, 20 day, 50 day, 100 day, and 200-day moving averages.

Commenting on to this win Mr. Paresh Zaveri, CMD, said that “We are pleased to announce this win. Aurionpro is rapidly expanding in this segment and has been engaged by leading banks in Asian market. This win will strengthen our position as a leading service provider in this space. With the robust team, led by senior experienced leaders, we are best placed to grab immense opportunities in this space

The company reported a net profit of Rs 14.21 crore for the quarter ended March 2021. Profit in the year-ago period stood at Rs 4.17 crore. Revenue from operations grew 52 per cent to Rs 115.81 crore in the March-ended quarter against Rs 76.02 crore a year ago. The EPS has increased to Rs 6.23 in June 2021 from Rs 1.83 in June 2020.

"On the business front, Banking and Fintech continues to post robust performance with more than 25% increase in the revenue. We are 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," Mr. Paresh Zaveri, Chairman & Managing Director, Aurionpro Solutions Ltd.

“We are expecting a phase of robust growth across all business segments. With solid performance and strong cash flows, we plan to become net debt free by October this year,” he noted.

“Additionally, new product offerings are slated in coming quarters which include launch of a new product in transit space and cloud based offering of our banking products,” he added.