Kellton Tech, a digital transformation solutions company, has expanded its operations to the energy sector by launching an Artificial Intelligence platform enabled by the Internet of Things. The firm has hired Ramana Palisetti, a veteran in the energy sector, to lead this vertical.
“The platform enables remote monitoring of real-time data from various energy assets and resources at multiple locations. Leveraging predictive and prescriptive analytics, it allows clients to make faster, and informed decisions,” Niranjan Chintam, Founder-Chairman of Kellton Tech, said.
“We expect this vertical to contribute 15-20 per cent of our overall revenues in the next three years. We expect a growth of 20 per cent in revenues for the company,” he said.
“Initially, we are targeting the Asia-Pacific and South American markets for the new opportunities in the energy sector,” Ramana Palisetti, Head (Energy) of Kellton Tech, said. The firm plans to raise ₹70-100 crore the next financial year through a preferential allotment. Promoters hold 62 per cent in the firm, with the rest being held by the public.
Addressing reporters here to announce the third quarter results, Niranjan said the firm registered a total revenue of ₹210.78 crore for the quarter ended December 31, 2017, a growth of 14 per cent over ₹184.84 crore in the previous quarter.
The net profit stood at ₹17 crore in the quarter, a growth of 17.1 per cent over ₹14.56 crore in the second quarter. For the nine-month period, the firm registered a net profit of ₹46 crore (₹38.9 crore) on a total revenue of ₹571.32 crore (₹451.46 crore).
The firm, which has 1,500 employees including 800 in India, will hire 200 this year. It has 600 employees in Gurgaon and 200 in Hyderabad. Most of the new employees will be deployed in Hyderabad.