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News >> Enterprise >>
Kale's Q1 revenues up 11 percent
By siliconindia
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360.88 million for the quarter ended June 30, 2009, as compared to 326.13 million during the corresponding period, a growth of 11 percent.
On a stand-alone basis, the company recorded operating income of 256.24 million for the quarter ended June 30, 2009, as compared to 228.10 million during the corresponding period, a growth of 12 percent.
Vipul Jain, CEO and Managing Director, Kale said, "Our financial performance is a result of good execution by the entire Kale team. We have put focus on improving productivity and managing costs proactively, and the results are beginning to show."
With the consent of the shareholders, the company approved the proposal for issue of upto 14,84,000 equity shares/warrants/convertible instruments to the promoters of the company on preferential basis. Narendra Kale, Chairman, Kale said, "We believe in the value that the company is building, and this is a demonstration of that faith."
Kale's solutions are also available as pay-for-use hosted platforms. This innovative model is beneficial for customers since it reduces upfront investments. Kale's audit and revenue recovery services helps airlines recover lost revenue. The recovery is a direct addition to airlines profitability and helps customers identify gaps and plug revenue leakages.