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Kale Q1 net at Rs 12.3 lakh

Our Bureau

MUMBAI, July 22

KALE Consultants has turned around in the first quarter of 2002-03 and reported a net profit of Rs 12.3 lakh compared to net loss of Rs 86.7 lakh during the corresponding period last year.

Net sales for the quarter were at Rs 11.25 crore as against Rs 10.52 crore during the same period in the previous year. Gross operating expenditure was Rs 10.68 crore for the quarter against Rs 10.96 crore in the previous year's period.

According to a company release, Kale's airline division registered a 32 per cent sequential growth adding three new customers during the quarter including a large airline, Travel Cuts and Kuala Lumpur Airport Services.

The release further highlights the geographical break-up of revenues with 28 per cent coming from Asia Pacific, 24 per cent from Middle-East/Africa, 28 per cent from India, 12 per cent from Europe and 8 per cent from the US.

It also quoted Mr Vipul Jain, Managing Director, as saying, ``we are proceeding as per plan. Both our airline and banking divisions are working towards target performance and we expect to meet our revenue and profit guidance for the year.''

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