Kochi: INKEL Limited, Kerala’s PPP model infrastructure development company promoted by the State government, notched an impressive performance with a net profit of Rs. 10.28 crores in the financial year 2014-15 as compared to Rs. 3.83 crores a year earlier, registering a growth of 170 per cent.
“The pattern of revenue earnings during 2014-15 has changed substantially to ‘Income from Operations’ from ‘Other Income’ which predominantly was from consultancy and other sources. Deployment of large funds for development activities is the chief reason behind the change in revenue pattern,” said T Balakrishnan, MD of INKEL, in a press note.
Revenue from operations and other income grew substantially by almost 300% to Rs. 45.42 crores as against Rs. 15.94 crores in the previous year. Profit before tax stood at Rs.15.84 crores as against Rs. 5.68 crores during the corresponding period a year earlier.
Consolidated revenue for the year was pegged at Rs. 55 crores as compared to Rs. 13.11 crores in 2013-14. The company notched a growth of over 400 per cent in revenue for during the current year.
“Another significant change in the nature of our operations is that we began to focus more on core infrastructure projects,” Balakrishan said.
“The total value of projects in hand, both ongoing and those in the pipeline, stood at Rs. 500 crores during the current financial year. The revenue is expected to grow exponentially in the next fiscal with the completion of the Tower 2 with 2.5 lakh sq. ft. at INKEL Business Park, Angamaly next year and operations of various new projects at INKEL Greens Malappuram and SME park on 168 acres of land,” he added.
Kerala Biz News
Photograph shows Inkel Green project