Aurionpro Surges Following Announcement to Expand Payment Solution Globally

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Aurionpro Surges Following Announcement to Expand Payment Solution Globally

Team FS

24/May/2024

Key Points:

Aurionpro Solutions' shares jump 5% to hit upper circuit limit after announcing a strategic collaboration with Fime, a leading payment services provider.
The partnership between Aurionpro Transit and Fime aims to revolutionize transit experiences globally, focusing on transit ticketing, payments, and fare collection projects.
Additionally, Aurionpro Solutions declares its first-ever bonus issue and doubles its dividend payout, reflecting confidence in its financial performance and growth prospects.

Investors witnessed a significant surge in Aurionpro Solutions' shares, soaring 5% to hit the upper circuit limit of ₹2,250.6 apiece on the BSE. This surge comes following the company's announcement of a strategic partnership with Fime, a renowned payment services provider, signaling a new chapter in revolutionizing transit services globally.

Revolutionizing Transit Experiences through Collaboration:
Aurionpro Solutions' subsidiary, Aurionpro Transit, has joined forces with Fime to explore opportunities in transit ticketing, payments, and fare collection projects worldwide. With a shared vision of transforming transit experiences, the partnership aims to leverage their combined expertise and resources to address the evolving needs of public transport operators and authorities. Through innovative solutions and emerging technologies, Fime and Aurionpro Transit seek to drive change and efficiency in the transportation industry.

Financial Confidence and Growth Initiatives:
In addition to the strategic partnership, Aurionpro Solutions recently announced its first-ever bonus issue, offering shareholders one free share for every share held. Furthermore, the company has doubled its dividend payout, now declaring a dividend of ₹2.5 per share on a post-bonus basis. This reflects Aurionpro Solutions' confidence in its financial performance, as evidenced by a 29% revenue growth to ₹247 crore and a 30% increase in EBITDA to ₹52 crore for the March quarter. With a 48% rise in net profit to ₹40 crore year-on-year, the company is poised for continued success and value creation for its shareholders.

Conclusion:
Aurionpro Solutions' strategic partnership with Fime marks a significant milestone in its journey towards revolutionizing transit services globally. With a focus on innovation and efficiency, the collaboration aims to enhance transit experiences and address the evolving needs of public transport operators and authorities. Additionally, the company's financial initiatives, including the bonus issue and increased dividend payout, underscore its confidence in its financial strength and growth prospects. As Aurionpro Solutions continues to drive innovation and expand its offerings, it remains a promising player in the evolving landscape of transit services and technology solutions.

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Aurionpro Surges Following Announcement to Expand Payment Solution Globally

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