Financial Daily from THE HINDU group of publications
Thursday, May 04, 2006


News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate Results - Hardware
Info-Tech - Financial Performance


MRO-Tek net, revenues rise

Our Bureau


MR S. NARAYANAN (RIGHT), Chairman & Managing Director, MRO Tek, and Mr R. Ramaswamy, CFO, at a press conference in Bangalore on Wednesday. - G. R. N. Somashekar

Bangalore , May 3

MRO-TEK has reported a growth of 323 per cent in net profits and 21 per cent in revenues for the year-ended March 31, 2006, over the previous year.

Net profits for FY06 stood at Rs 17.56 crore on revenues of Rs 144 crore as compared to a net of Rs 4.15 crore on revenues of Rs 119 crore in the previous year.

The company declared a final dividend of 20 per cent (Re 1 on par value of Rs 5) for the year. With this, the total dividend payout works out to 45 per cent (Rs 2.25 per share), including the interim dividend of 25 per cent declared earlier (Rs 1.25 per share). The MRO-Tek shares closed lower by a little over one per cent at Rs 82.90 on the Bombay Stock Exchange on Wednesday.

The company has cleared its Rs 13-crore term debt as well as temporary working capital borrowings and is totally debt-free, Mr Ramaswamy, CFO, MRO-TEK, said.

Mr S. Narayanan, Chairman and Managing Director, said the company was targeting a revenue growth of 15-20 per cent for the current financial year. The company, which commercialised about five products last year, expects to commercialise five more in the current year, he said.

Mr H. Nandi, Managing Director, said the company expects to spend about Rs 3-4 crore on research and development this year. "The R&D team has grown and expected to growth further on the Network Management Services (NMS) team," he said.

More Stories on : Hardware | Financial Performance

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
MRO-Tek net, revenues rise


Goldstone Tech posts Q4 loss
State Bank of Mysore plans stock split
SBBJ posts lower net



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line