Mumbai: Kale Consultants, a solutions provider to airline, logistics and travel (ALT) industry, recorded consolidated revenues of Rs326.13 million for the quarter ended 30June, 2008, compared to Rs230.31 million during the previous year, a growth of 42%.
Consolidated PAT stood at Rs36.48 million as compared to Rs13.87 million. Previous quarter’s PAT of Rs117.31 million includes an exceptional gain of Rs103.43 million.
On a standalone basis, the company recorded total income of Rs229.87 million as compared to Rs210.19 million during the corresponding period. PAT stands at Rs17.44 million as compared to Rs11.51 million, a growth of 51%.
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.”
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, he said.