MRO-TEK profits up by 320 pc, revenue 20 pc
Bangalore, May 3 (UNI) Network access solution provider MRO-TEK today announced a 20 per cent increase in revenue at Rs 114 crore for fiscal 2006 with profit after tax (PAT) growing by 320 per cent to touch Rs 17.56 crore.
Announcing the results for 2005-06, MRO-TEK Chairman S Narayanan said the company hoped to maintain the same level of growth for the current fiscal and would be releasing five new products this year.
In the fourth quarter, the company earned a revenue of Rs 32.56 crore as against Rs 30.88 crore in the fourth quarter of the previous year, with PAT incresing to Rs 5.06 crore from Rs2.05 crore.
Increase in sales revenue and higher operating margin achieved by product mix had resulted in higher profits, Company Chief Financial Officer R Ramaswamy said, announcing a final dividend of 20 per cent in addition to 25 per cent interim dividend declared February last.
He said the company had completely liquidated its debt amounting to Rs 13 crore.
Mr Narayanan said the R and D team had grown and was expected to grow further on the Network Management Services team.
Mr Ramaswamy said the company had already exported its products to countries in the South Asian region. It was exploring the market in South American countries and Japan, he added.
He said the company had provided solution to the Railways to put up networked unreserved ticket booking counters in 18 stations this year. The facility would enable the accounts department at the divisional headquarters to instantaneously know about tickets purchased at a railway station in a remote area. The potential was enormous as there were 7,000 stations spread across the country, he added.
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