Kale's consolidated Q1 revenues up 42%

Kale Consultants, the leading solutions provider to the Airline, Logistics and Travel (ALT) industry, has recorded consolidated revenues of Rs. 326.13 mn for the quarter ended June 30, 2008, as compared to Rs. 230.31 mn during the previous year, a growth of 42%. Consolidated PAT stood at Rs. 36.48 mn as compared to Rs. 13.87 mn. (Previous quarter’s PAT of Rs. 117.31 mn includes an exceptional gain of Rs. 103.43 mn.)

On a stand-alone basis, the company recorded total income of Rs. 229.87 mn as compared to Rs. 210.19 mn during the corresponding period. The PAT stands at Rs. 17.44 mn as compared to Rs. 11.51 mn, a growth of 51%.

Commenting on the performance, Mr. Sumeet Nadkar, CFO said, “We are on-track in terms of revenue and profitability growth. The acquisition of Zero Octa last year is working well and contributing to the overall performance. We are confident that we will continue to grow in coming quarters.”

Speaking about the business environment, Mr. Vipul Jain, CEO and Managing Director said “The airline industry is in what IATA is calling “The Perfect Storm”. The high fuel prices combined with fears of economic slowdown are hurting airlines badly, with the industry expected to have losses of $ 2.3 billion in 2008. Crises are opportunities to drive bold changes – and we are working with our customers to help them realize significant efficiencies and substantially lower costs. Platform-based outsourcing and SaaS (Software as a Service) are the business models that drive transformation while sharing risk and reward with customers. We are seeing more traction than ever before with these models.”

Sourced From: Adfactors Public Relations Pvt Ltd