Kale Q-1 results bright, sales up by 8.48%
By Leveraging three strategically loca | 23 Jul 2002
Mumbai: The aviation and banking software major Kale Consultants Ltd has improved its performance. It has posted a 125-per cent increase in PBIDT (profit before interest, depreciation and taxes) to take it from Rs 9.49 million in the first quarter of the last fiscal to Rs 21.36 million in the first quarter of the current fiscal.
The company has recorded Rs 115.63-million revenue in Q1 of the current fiscal, registering an 8.48-per cent growth over the corresponding period of the last financial year. The company’s profit after tax at the end of the first three months stood at Rs 1.23 million, as against a net loss of Rs 8.67 million recorded in Q1 of the last financial year.
Kale’s airline division continues to do well, registering a 32-per cent growth QOQ. The airline division won three new customers during this quarter. The company has bagged a contract from Travel Cuts for its passenger revenue accounting system, Revera. Travel Cuts is the first customer in the North American region to use Kale’s new generation Revera product in a licensed mode.
The company has also sold its cargo-handling product Mercury to Kuala Lumpur Airport Services. The company also added one large airline as a customer for its audit services, which uses its product Faregain and is offered from its airline-processing centre in Mumbai.
The geographical break-up of revenues also shows a well-diversified picture, with 28 per cent of revenues coming from the Asia Pacific region, 24 per cent coming from the Middle-East and Africa, 28 per cent from India, 12 per cent from Europe, and 8 per cent from the US. While this mix may change from year to year, the regional diversity of the company’s revenue sources makes it less vulnerable to region-specific risks and threats.
Says Kale Consultants managing director Vipul Jain: “We are proceeding as per plan. Both our airline and banking divisions are working towards target performance and we expect to meet our revenue and profit guidance for the year.”
Leveraging three strategically located development centres in India, Kale Consultants is a global organisation with over 600 professionals, six international offices and customers in more than 20 countries across the world.