Kale Consultant''s Q3 net profit up 271 per cent
By Mumbai: | 10 Feb 2004
Mumbai: Kale Consultants Ltd, leading provider of software solutions and outsourced services to the airline industry, has recorded total revenues of Rs. 12.64 crore and net profit of Rs 1.74 crore for the quarter ended December 31, 2003. Net profit increased by 271 per cent, compared to the corresponding quarter of the previous year. The results reflect the performance of the core airlines division, after divesture of most of the non-core businesses.
For the nine months ended December 31, 2003, the company recorded total revenue of Rs. 35.72 crore and net profit of Rs. 2.04 crore, a growth of 100 per cent compared to the corresponding period of the previous year.
The airlines division (products revenue Rs. 5. crore) grew by 9 per cent and contributed 87 per cent to revenue. Managed process services (MPS) contributed Rs. 4.7 crore. Operating profit margin improved from 18.9 per cent to 28.4 per cent. Top 5 customers accounted for 56 per cent of revenue.
Exports grew from 81 per cent to 91 per cent of revenue and Europe contributed 37 per cent of revenue, followed by middle East / Africa with 32 per cent Asia Pacific with 19 per cent India with 9 per cent and USA with 3 per cent.
Commenting on the performance, Mr. Vipul Jain, managing director Kale Consultants said, "We are on a scaleable and sustainable growth path following successful business transformation. Order backlog is strong and expected to grow very significantly in the near future."
Kale is the only India-based software firm with a complete integrated suite of products for revenue accounting and cargo management — the two most important functions of the airline industry. The firm is India's leading provider of software products and outsourced services to the airline industry, with over 35 customers in 30 countries across the globe.
