Aurionpro Solutions shares rose nearly 1% on Wednesday, October 14, following the announcement of a significant contract win in Finland. According to reports from CNBC TV18, the company secured a project from Matkahuolto, Finland's parcel and digital transport services company, to establish public transport payments in the country. The contract was awarded after a competitive RFP process, with Aurionpro selected as the device vendor for the contactless EMV project. This selection marks Aurionpro's entry into the European market, representing a significant expansion of the company's global transit business operations.
Under the Master Service Agreement, Aurionpro will provide its SCV 500 Validator and ECR-one contactless card reader, together with integration to Matkahuolto's Transport Management System (TMS) and APIs for payment-application connectivity. As reported by CNBC TV18, this system will enable the acceptance of EMV payment cards alongside Finland's local contactless card standards, creating a seamless and reliable fare-payment experience across the public transport network. Sanjay Bali, President & Global Head, Tech Innovation Group at Aurionpro, stated that this engagement is a significant milestone in expanding the company's global transit business, noting that the project establishes a pipeline of opportunities across Europe.
The contract win comes as Aurionpro Solutions reported mixed financial results in July, with profit after tax (PAT) slumping 25.4% to ₹45.86 crore from ₹61.5 crore in the previous quarter. However, revenue from operations improved by 3.77% to ₹358 crore in the first quarter from ₹345 crore in the previous one. The company's EBITDA slumped 6.7% to ₹61.8 crore from ₹66.3 crore, with the EBITDA margin contracting to 17.27% from 19.2% compared to the end of the last quarter. The scale of operations suggests that the implementation of standardized contactless payments could substantially impact user experience efficiency across Finland's transport network.
As reported by CNBC TV18, shares of Aurionpro Solutions gained 2.3% to hit an intraday high of ₹624.4 on Wednesday, though they later gave up gains to close at 1%. The stock has declined by over 48% in the past year of trade and remains marginally above the 52-week high low mark of ₹593.35 per share. The collaboration supports Matkahuolto's goal to improve support for tickets from different operators on its onboard solutions, enhancing accessibility and flexibility in public transport. With Matkahuolto's Digital Transport Services segment facilitating over 7 million journeys annually and Parcel Services handling 20 million parcels per year, the adoption of Aurionpro's technology represents a significant modernization effort within a high-volume logistics and transport ecosystem.
