Kellton Tech Solutions Limited today announced its financial results for the fiscal year 2014-15 and unveiled plans for expansion of its operations.
The organization continues to build on the promise it showed last year and kept up the momentum of previous years. Fresh from acquiring US-based ProSoft Technology Group, Kellton Tech is well on its way to reach its target of Rs.600 crores in 2016.
Consolidated Financial Results
|Quarterly Results||Yearly Results|
|June 2015||March 2015||QoQ||June 2015||June 2014||YoY|
*Amount in crores of INR
The quarterly results show significant increase in all parameters. Revenue for the quarter ending on June 2015 is up by 124% and stands tall at 103.76 crores. The net profit and EPS increased by 56% and 48%, respectively. The annual results have also been impressive. The revenue for financial year July 2014 – June 2015 was Rs. 239.64 crores. It registered an increase of over 79% from last year. The increase in annualised net profit has been enormous, going up by 247% while the annualised EPS grew by a remarkable 193%.
Kellton Tech targets an annual revenue worth 2,000 crores INR in the next three years. This growth will be accomplished by making strategic acquisitions, restructuring and consolidating its business units to optimise its global business and building strong tiers of middle and senior management across functional domains. Capitalising on the massive potential it sees in I-SMAC (Internet of Things – Social, Mobile, Analytics, Cloud), Kellton Tech intends to harness its power to help businesses offer great customer experiences.
Srinivas Potluri, CEO (USA) said, “Post-acquisition, we are rationalising our business strategy, branding and customer support. The US market contributes substantially to our global revenue and we have streamlined overlapping functions while retaining the distinct offerings of each company in the region. This has enabled us to synergise our US operations and increase our efficiencies and profitability. We are in the process of putting together an appropriate team to embark on this journey to take Kellton Tech to the next orbit of growth.”
Krishna Chintam, Managing Director and Co-Founder of Kellton Tech said, “Our recent acquisitions were instrumental in this significant leap. We have a unified work culture that helps us constructively engage with all stakeholders and coherently integrate the business units of acquired companies. We are a fully-equipped organisation serving the complete spectrum of IT needs with a strong focus on I-SMAC. The enhanced capabilities and resources will allow us to build highly innovative solutions that will create a winning scenario for both our customers and stakeholders.”
About Kellton Tech Solutions Ltd.
Kellton Tech Solutions Limited is a publicly listed (BSE: KELLTONTEC), CMMi Level 3 and ISO 9001:2008 certified global IT services organization. It is headquartered in Hyderabad, India and has development centres in the United States and India. For two innovative decades, Kellton Tech has put into practice the vision upon which it was founded viz. “to offer infinite possibilities with technology”. The company is committed to providing end-to-end IT solutions, strategic technology consulting, and offshore product development services. Kellton Tech has a diverse clientele ranging from start-ups and SMBs to enterprises, and Fortune 500 businesses. The organization has serviced customers representing a wide range of industry verticals including retail, travel, e-commerce, education, hospitality, advertising, market research, manufacturing and non-profits.