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The company reported a 3% QoQ decline in consolidated net sales for June 18 quarter to Rs 208.62 crore as Phase 1 contract from Mauritius government got completed in Mar 18 quarter and also a divestment of one of the subsidiary led to lower revenues. OPM was down by 170 bps and stood at 15.3%, which resulted in OP fall of 13% to Rs 31.92 crore. Other income for June 18 quarter stood at Rs 1.06 crore as compared to Nil for Mar 18. Interest costs was lower by 6% to Rs 4.58 crore and depreciation was lower by 18% to Rs 1.39 crore. Thus, PBT was lower by 10% to Rs 27.01 crore. After providing total tax of Rs 7.37 crore down by 3%, PAT for the June 18 quarter stood at Rs 19.64 crore, down by 12% QoQ basis.
On YoY basis, consolidated net sales were up by 19% to Rs 208.62 crore. OPM was up by 110 bps which resulted in OP growth of 28% to Rs 31.92 crore. Other income stood at Rs 1.06 crore for June 18 quarter as compared to Rs 0.53 crore for June 17. Interest cost was higher by 47% to Rs 4.58 crore and depreciation was higher by 32% to Rs 1.39 crore. This resulted in a PBT growth of 27% to Rs 27.01 crore. After providing total tax of Rs 6.78 crore, higher by 9%, consolidated PAT for June 18 quarter stood at Rs 19.64 crore, up by 36% YoY basis.
Commenting on the results, Mr. Niranjan Chintam, Chairman & Whole-time Director, Kellton Tech, said: "The strategic divestment of one of our subsidiaries and the successful completion of Phase 1 of the Mauritius Government Project has resulted in slower growth this quarter. However, we are confident of the future outlook with our strong pipeline and the onset of Phase 2 of the Mauritius project. At present, our expertise in enterprise integration platforms is driving traction in the APAC region. We are also aligning our investments with technology shifts and trends to strengthen our value proposition and stay ahead in our journey of disrupting businesses."
Kellton Tech demonstrated a range of digital transformation solutions at ConnectTechAsia Singapore 2018 to help enterprises improve customer experience and create new levels of transparency.
As an SAP Gold partner, the company were a proud sponsor of this year's SAPPHIRE NOW and the Americas' SAP Users' Group (ASUG) annual conference in Orlando. It showcased the SAP qualified solution—Analytics Cloud for Professional Services— SAP Fiori UX/Mobile solutions for ECC, and much more.
The company also hosted Drupal Delhi Meetup 2018 at our Gurgaon facilities for the community to come together and discuss the latest trends in Drupal 8 development
The company acquired 12 new clients during the quarter, some big wins are:
- Developing an end-to-end digital strategy roadmap for a large manufacturing firm
- Implementing a secure, high-capacity online payment platform for a US-based design and software developent company
- Transforming customer engagement to drive profitable growth for a Leading Middle-East Fin Tech & Mobile Wallet company
- Accelerating the speed of innovation with an Omnichannel portal for the fastest-growing health and wellness organization
- Reinventing the loyalty program for a US-based worldwide leader in IT and networking
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