Kochi | INKEL Limited, a PPP model Infrastructure development company promoted by the Kerala government made a net profit of Rs 10.28 crore in 2014-15 fiscal compared to Rs 3.83 crore a year earlier. The company has registered a 170 per cent growth in its profit.
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 in a press release here.
Revenue from operations and other income grew almost 300 per cent 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 notched a growth of over 400 per cent in revenue during the current year.
Another significant change in the nature of our operations is that we began to focus more on core infrastructure projects, Balakrishnan added.
The total value of projects in hand, both ongoing and those in the pipeline, stood at Rs 500 crore during the current financial year, he said.
The revenue is expected to grow exponentially in the next fiscal with the completion of the Tower 2 with 2.5 lakh square feet 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 further added.
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