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Kale Q1 Revenues up 31% |
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Brief Highlights: |
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Mumbai, July 23, 2010: Kale Consultants, the leading solutions provider to the Airline, Airports, Logistics and Travel (AALT) industry, has recorded operating income of Rs. 335.11 mn for the quarter ended June 30, 2010, as compared to Rs. 256.24 mn during the corresponding period, a growth of 31%. The Profit Before Tax and Exceptional Item was Rs. 42.00 mn as compared to Rs. 34.19 mn during the corresponding quarter, a growth of 23%. Exceptional item of Rs. 10.51 mn represents the excess of retained profits over the carrying amount of investment in the wholly owned subsidiary, Kale Technologies Limited, U.K., which was wound up during the quarter. Consequentially the PAT stood at Rs. 51.51 mn as compared to Rs. 34.07 mn during the corresponding period. |
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| On a consolidated basis, the company recorded revenues of Rs. 422.26 mn for the quarter ended June 30, 2010, as compared to Rs. 358.52 mn during the corresponding period, a growth of 18%. Consolidated PAT stood at Rs. 50.60 mn compared to Rs. 56.60 mn during the corresponding period. | ||||||||
| Commenting on the performance, Mr. Vipul Jain, CEO and Managing Director said “Emerging from a tough period last year the airline and logistics industry is stabilizing. We are seeing good traction for our core revenue accounting portfolio”. | ||||||||
| Kale Consultants provides comprehensive financial and business intelligence solutions to the airline industry. For the logistics industry Kale provides solutions to the entire value chain including, carriers, shippers, airports, freight forwarders and container freight stations. Solutions for the travel industry include an end-to-end platform for travel operators.; | ||||||||
| Kale’s solutions are also available as pay-for-use hosted platforms. This innovative model is beneficial for customers since it reduces upfront investments. The return on investment on the pay for use model is quite fast since the business benefits of the solution pays for itself. Kale also offers a transaction based pricing that is tailored to the clients’ business. Similarly, Kale’s audit and revenue recovery services helps airlines recover lost revenue. The recovery is a direct addition to airlines profitability and helps customers identify gaps and plug revenue leakages. Thus Kale’s solutions reduce capital expenditure and offer flexible pricing models, thereby sharing risks and rewards. | ||||||||
Investor Relations: Kale Consultants Limited is committed to create long-term sustainable shareholder value through successful implementation of its growth plans. The company’s investor relations mission is to maintain an ongoing awareness of its performance among shareholders and financial community. |
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For additional information, please contact: Sumeet Nadkar |
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Safe Harbor: Certain statements in this release concerning our future growth prospects are forward-looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company. |
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