KTL announces Q1 Results

A meeting of the Board of Directors of the Company was held on July 28, 2008 at 4.00 P. M. at the Registered Office of the Company and adopted the Un-audited results for the quarter ended June 30, 2008.

The Board took note that the Company has posted a profit after tax of Rs. 12.56 Million for the quarter ended June 30, 2008 as compared to Rs. 9.68 Million for the quarter ended June 30, 2007. Total Income has increased from Rs. 102.40 Million for the quarter ended June 30, 2007 to Rs. 137.94 Million for the quarter ended June 30, 2008.

The Board also took note the Limited Review Report given by the Statutory Auditors for the quarter ended June 30, 2007. We are herewith enclosing the approved financial results of our Company, along with the Limited Review Report for the quarter ended June 30, 2008 for your noting.

The Board also discussed about the Company’s recent 100% investment in Space Hospitals Ltd., Chennai which caters end-to-end solutions for all healthcare segments including Telemedicine, partially by issue of equity shares for Rs. 9 Crores by allotting equity shares of Kaashyap Technologies Ltd. (KTL) to the shareholders of Space Hospitals Ltd. and for the balance through cash consideration of Rs. 8.5 crores. Upon receipt of in-principle approval from BSE and MSE, 2,25,00,000 equity shares at a face value of Re. 1 each at a premium of Rs. 3 per share has been allotted to the shareholders of Space Hospitals Limited on June 30, 2008. The listing of equity shares so allotted is in the process and will be listed soon in BSE and MSE, thereby widening the arena of operations into telemedicine. The paid-up capital would hence increase from to Rs. 35,90,95,635 to Rs. 38,15,95,635. This allotment increases the promoter’s shareholding from 0.69% to 1.54%.