Kellton Tech Q1 net profit rises 56% to Rs 8.59 crore

IT services company Kellton Tech Solutions today reported 56 per cent rise in its net profit at Rs 8.59 crore for the quarter ended June.
Its revenue also jumped 124 per cent at Rs 103.76 crore, the Hyderabad-based public listed company said in a statement.
The firm targets Rs 2,000 crore in annual revenue in the next three years, it added.
"This growth will be accomplished by 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", the statement added.
The company had recently acquired US-based ProSoft Technology Group.

"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," said Srinivas Potluri, CEO (US), Kellton Tech Solutions.
The company is a fully-equipped organisation serving complete spectrum of IT needs with a strong focus on I-SMAC (Internet of Things - Social, Mobile, Analytics, Cloud), said its Managing Director and Co-Founder Krishna Chintam.
"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", he added.