Aurionpro shares rally nearly 5% after company recommends bonus shares

Aurionpro Solutions Ltd, which caters to the technology solution needs of the banking, mobility, payments and government sectors, declared a bonus share issue to the eligible shareholders in the ratio of one new fully paid-up equity share of ₹10 for every one existing fully paid-up equity share of ₹10 each (1:1).

Companies usually announce bonus share issues to increase retail participation and expand the equity base. Bonus share issues are funded through profits or shares reserve.

The company’s board will decide on the Record Date for the bonus issue, Aurionpro Solutions informed the stock exchanges in a filing.

Aurionpro Solutions posts 29% growth in Q4 revenue

Aurionpro Solutions Ltd has reported a 29% growth in revenue for the March quarter of FY24 to ₹ 246.87 crore compared to the year-ago period. For FY24, revenue stood at ₹887.47 crore, a growth of 35% YoY.

The company’s EBITDA rose by 30% to ₹52 crore in the March quarter of FY24 compared to ₹40 crore in the year-ago period. EBITDA increased 33% year-on-year to ₹193.43 crore in FY24 while the EBITDA margins stood at 21.80%.

Profit after tax jumped 48% to ₹40 crore for the March quarter of FY24 compared to ₹27 crore in the year-ago period. For the full 2023-24 fiscal, profit after tax rose by 40% to ₹143 crore compared to ₹102 crore in 2022-23.

Aurionpro stated that the company won orders from two prominent private sector banks in India, for Interact DX, the recently acquired customer communication business.

Aurionpro also signed a multiyear, multimillion-dollar partnership with a prominent US Fintech giant, paving the way for expansive growth in the US market. The company started the relationship with initial work orders over USD 5 million in the last fiscal.

Auriopro shares were trading 2.83% higher at ₹2,597 apiece on the NSE at 12:39 pm.