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| Kale Consolidated Q1 Revenues up 11% - Revenue grows 11% |
| Brief highlights: |
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A leading South Asian airline and a start-up all cargo airline have chosen Kale's CSP,
cargo enterprise solution - A leading Middle-east low cost carrier has implemented Kale's financial dashboard solution
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| Mumbai, July 22, 2009: Kale Consultants, the leading solutions provider to the Airline, Airports, Logistics and Travel (AALT) industry, has recorded consolidated revenues of Rs. 360.88 mn for the quarter ended June 30, 2009, as compared to Rs. 326.13 mn during the corresponding period, a growth of 11%. Consolidated PAT stood at Rs. 56.60 mn compared to Rs. 36.48 mn during the corresponding period. |
| On a stand-alone basis, the company recorded operating income of Rs. 256.24 mn for the quarter ended June 30, 2009, as compared to Rs. 228.10 mn during the corresponding period, a growth of 12%. The PAT stands at Rs. 34.07 mn as compared to Rs. 17.44 mn during the corresponding period. |
| Commenting on the performance, Mr. Vipul Jain, CEO and Managing Director said "Our financial performance is a result of good execution by the entire Kale team. We have put focus on improving productivity and managing costs proactively, and the results are beginning to show." |
| The Board, subject to the consent of the shareholders at general meeting, approved the proposal for issue of upto 14,84,000 equity shares/warrants/convertible instruments to the promoters of the Company on preferential basis. Narendra Kale, Chairman commented "We believe in the value that the company is building, and this is a demonstration of that faith." |
| Kale Consultants provides comprehensive revenue accounting and cargo solutions to 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 Ltd 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. |
| For additional information, please contact |
| Mr. Sumeet Nadkar Chief Financial Officer Kale Consultants Ltd. Tel: 91-22-67808888 |
| Email: sumeet_nadkar@kaleconsultants.com |
| 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. |
