Kellton Tech sees 26% rise in Q4 profit

Kellton Tech
Source: Official Website

Hyderabad: Hyderabad-based global IT services company Kellton Tech Solutions posted an increase of 26 per cent in profit after tax for fourth quarter at Rs 14.3 crore from Rs 11.3 crore in the same quarter corresponding year. In terms of profit for the whole year, it stood at Rs 53.76 crore for FY17 as compared to net profit of Rs 39.56 crore in FY16 reflecting a growth of 35.9 per cent on YoY basis.

In addition, the company’s total revenue was at Rs 615.74 crore for the financial year 2017 from Rs 464.01 crore in FY16, an increase of 31.7 per cent year-on-year basis. Its revenue also saw an increase of 25 per cent from Rs 132.8 crore in same quarter last year to Rs 165.8 crore fourth quarter this financial year.

In terms of acquisition, Kellton Tech acquired nine new clients in the fourth quarter that include an insurance provider, major airport, credit-reporting agency and a US mobile communication solutions provider, the company said in a statement.

Commenting on the results, Niranjan Chintam, chairman and whole-time director, Kellton Tech, said, “We are amplifying our innovation lead in the digital by focusing on deep-tech like cognitive solutions, blockchain, artificial intelligence , internet of things (IoT) among others. We continue to be seen as the go-to digital partner for end-to-end enterprise transformation, thanks to our unique blend of digital talent and experience-led capabilities.”