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| Kale Q3 Revenues up 26%; Net profit up 79% |
| Brief highlights: |
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| Mumbai, January 27, 2009: |
| Kale Consultants Ltd., the leading solutions provider to the Airline, Logistics and Travel (ALT) industry, has recorded revenues of Rs. 251.27 mn for the quarter ended December 31, 2008, as compared to Rs. 199.87 mn for the corresponding quarter of the previous year, a growth of 26%. The PAT stood at Rs. 14.79 mn as compared to Rs. 8.26 mn for the corresponding quarter of previous year a growth of 79%. |
| Consolidated total income for the quarter ended December 31, 2008 stood at Rs. 368.66 mn as compared to Rs. 286.78 mn for the corresponding quarter of the previous year, a growth of 29%. The consolidated PAT stood at Rs. 38.14 mn as compared to Rs. 16.08 mn for the corresponding quarter of the previous year. |
| The consolidated revenue for nine months ended December 31, 2008, is Rs. 1067.75 million compared to Rs. 882.93 million for the corresponding period last year, a growth of 21%. |
| Commenting on the performance, Mr. Vipul Jain, CEO and Managing Director said, "With a steady operational performance in Q3, we are confident of ending FY09 on a positive note. The tangible benefits of acquiring Zero Octa in the last year have started to kick-in. Taking a proactive view of the overall economic conditions we are also looking at streamlining operations and increasing organizational efficiencies." |
| He further added "Our growth in difficult conditions highlights the merits of our unique business model. Our domain-led and IPR-driven solutions provide clients with transformational value. At the same time our pay-as-you-use models are seen an ideal alternative for clients with tighter technology budgets." |
| 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. |
| 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. |
