Kellton Tech unveils IoT solution for energy sector

February 07, 2018 12:00 am | Updated 04:45 am IST - HYDERABAD

Kellton Tech Solutions Ltd has for the quarter ended December 2017 reported a Rs. 17.03 crore consolidated net profit, a 23.49% increase over the Rs. 13.79 crore posted in the year earlier.

The digital transformation solutions provider’s total income rose 32.71% to Rs. 210.78 crore (Rs. 158.82 crore).

In a media interaction here on Tuesday, chairman Niranjan Chintam said the company has developed an IoT platform for the energy sector. “The new platform has been launched as we see a lot of potential in energy,” he said. The company was already providing IoT solutions in many areas, including in the field of education, food and grocery business and fleet management.

The new solution enables monitoring of real-time data from various energy assets and resources at multiple locations. Based on predictive and prescriptive analytics, it helps customers make informed decisions and help improve operational efficiency and reduction in downtime of the assets. To queries, he said the company planned to raise its India headcount by 200 before March 2019. At present, it has 1,500 people, with 800 of them based out of Hyderabad, Gurugram and Kandla centres and the rest in the U.S. Kellton, he replied, would also be raising Rs. 75 crore to Rs. 100 crore by the same timeline to fund the expansion programme.

In a filing to the stock exchange, the company said the board of director has approved the issue of bonus shares in the ratio of 1:1.

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