INKEL profit up 170 %

KOCHI: INKEL Limited, Kerala’s PPP Infrastructure development company promoted by the state government, notched up an impressive performance with a net profit of Rs 10.28 crore in the year 2014-15 as compared to Rs 3.83 crore 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 Balakrishan, MD, INKEL.

Revenue from operations and other income grew substantially by almost 185 % to Rs. 45.42 crore as against Rs 15.94 crore in the previous year. Profit before tax stood at Rs.15.84 crore as against Rs. 5.68 crore during the corresponding period a year earlier. Consolidated revenue for the year was pegged at Rs 55 crore as compared to Rs 13.11 crore in 2013-14. The company clocked a growth of over 300 per cent in revenue for the year.

“The total value of projects in hand, both ongoing and those in the pipeline, stood at Rs 500 crore 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.