The Hindu Business Line : Kale Consultants net falls 37 pc

KALE Consultants Ltd has recorded a 37 per cent drop in net profit at Rs 15 lakh for the quarter ended June 30, 2004 compared to Rs 25 lakh registered in the corresponding quarter of the previous year.

"Last year, it must be understood that we had business from the banking division among others. Moreover, we have not been able to show revenues from the customers we signed on this quarter, since revenues from three out of the four customers will be on an annuity basis," Mr Sumeet Nadkar, CFO, Kale Consultants, told Business Line.

Of the four new customers signed during the quarter, three are managed process services customers with long-term annuity type contracts and the fourth is a licence sale.

During the quarter, the company recorded revenues of Rs 9.9 crore (Rs 11.3 crore). However, the last year's figures include Rs 3 crore of business that has been discontinued due to the restructuring done. Thus, the airlines division grew approximately 15 per cent from Rs 8 crore to Rs 9.1 crore, according to a company release issued here on Tuesday.

Cognosys, the travel technology subsidiary of Kale, posted revenues of Rs 2.1crore in the quarter with a net profit of Rs 36 lakh. Cognosys is in the process of being merged with Kale and thus together, the top line is Rs 12.1 crore and bottom line is Rs 52 lakh.

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