Kellton Tech Q2 FY23 Revenue at Rs. 2278.5 Million; up 9.1% YoY

Kellton Tech Solutions Ltd. (BSE & NSE: KELLTONTEC), a global leader in digital transformation serving startups to Fortune 500 companies announced its financial results for Second Quarter & Half Year FY22 ended on 30th September 2022.

Review of financial performance for H1 FY23

- Total revenue was Rs 4,447 million during the six month period under review
- The Company reported an EBITDA of Rs 515 million for the six month period under review
- The EBITDA margin for the six month period under review was 11.6%
- Net profit stood at Rs 331 million for the six month period under review
- The PAT Margin for the six months period under review was 7.4%
- EPS stood at Rs 3.60 for the six month period under review

Review of financial performance for the quarter ended 30th September, 2022

- Total revenue was Rs 2,279 million during the quarter under review; up 5.1% QoQ and 9.1% YoY.
- The Company reported an EBITDA of Rs 260 million for the quarter under review
- The EBITDA margin for the quarter under review was 11.4%.
- Net profit stood at Rs 168 million for Q2 FY23; up 3.5% QoQ
- The PAT Margin for the quarter under review was 7.4%
- EPS stood at Rs 1.8 for Q2 FY23

New Client Wins during Q2 FY23

Acquired 11 new clients during the quarter, some big wins are:

- In collaboration with a San Francisco-based investment firm, Kellton is building a singlewindow system from which patients can access their EHR, lab, emergency room, and hospital records anytime. This new system will comply with HIPAA and PII standards, such as account data and personal health information.

- A leading middle east venture capital firm has selected Kellton to leverage its data engineering expertise to execute their requirements including data migration, data conversion, and reporting. This will enable them to efficiently manage their business data and help in building a robust decision support system for their future investments.

- Kellton has been chosen as a digital transformation partner to help the UK and Ireland's fastest-growing hotel and resort groups transform through enterprise connectivity. We are enabling business scalability via core integrations with 3rd party aggregators to deliver smarter revenue, distribution and marketing outcomes and allow diverse systems to communicate, share data synchronously.

- Kellton has been selected as a preferred digital partner by a leading general insurance provider to redesign and rebuild their customer onboarding platform. The aspired digital product will redefine how new insurance customers interact and receive information and enable a seamless policy purchase journey.

- In collaboration with a US-based renewable energy consultancy, Kellton will be building a next-gen, smart CRM system that enables a self-service marketplace to help customers purchase carbon and energy credits and offset their footprint.

- A collaborative endeavour by the world's leading non-for-profit agencies that ensures refugee children education through eLearning has engaged with Kellton to develop a edTech product that brings digital education to refugee communities and helps fulfil their career aspirations.

Operational Highlights of Q2 FY23

- We have just been named in the Outlook Publishing (India) Pvt. Ltd. list of the Top 10 Software Development Companies In India

- One Kellton Initiative major change : website changed to www.kellton.com and merged subsidiaries of Kellton

- Participated in SAP Asug Event. ASUG - American User Group Events are attended by the SAP Users especially the key decision makers viz CXOs. Kellton by participating in these events will get the requisite brand recognition

Commenting on the results, Mr. Niranjan Chintam, Chairman & Whole-time Director, Kellton Tech, said: "During Q2 FY23, we witnessed a positive growth trajectory and made significant progress on our sustainability goals. The total revenue was Rs 2,278.5 million, up from Rs 2,168.8 million in Q1 FY23, representing a 9.1% Y-o-Y growth and a 7.5% half-yearly growth. Our performance is a testament to our renewed commitment to strengthening our capabilities and value creation. At this point, we remain confident in our business strategy, the resilience of our technology, and our people. As we make steady progress in all avenues of our business, we foresee an all-round growth and strong profitability."

Shares of Kellton Tech Solutions Limited was last trading in BSE at Rs. 65.85 as compared to the previous close of Rs. 63.90. The total number of shares traded during the day was 38901 in over 812 trades.

The stock hit an intraday high of Rs. 68.65 and intraday low of 64.20. The net turnover during the day was Rs. 2596273.00.

Source : Equity Bulls

Keywords

KelltonTechSolutions INE164B01022 Q2FY23 H1FY23 ResultUpdate