Kale Q3 net profit up 79 p.c

MUMBAI, INDIA: Kale Consultants Ltd., a leading solutions provider to the Airline, Logistics and Travel (ALT) industry, today announced its third quarter results for a period that ended on December 31, 2008.

It recorded a net profit of Rs. 14.79 million that was up by 79 per cent when compared to Rs. 8.26 million for the corresponding quarter, said a press release.

The revenues for the quarter stood at Rs. 251.27 million, 26 per cent up as compared to Rs. 199.87 million for the corresponding quarter of the previous year and was up by 26 per cent.

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 per cent, the release added.

It recorded a consolidated EPS for the quarter at Rs. 2.61 per share.

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.”

During the reporting quarter the company has increased traction in outsourced revenue accounting and proration solutions, the release added.