Genus Overseas's Q1 FY-07 net rises 75 pc at Rs 3.68 cr

Mumbai, July 28 (UNI) Genus Overseas Electronics has posted a 75.29 per cent growth in net profit at Rs 3.68 crore for the first quarter ended June 30, 2006, as compared to Rs 2.10 crore for the same period last year.

The company's net income from operations also rose by 35 per cent to Rs 56.18 crore, as against Rs 41.52 crore in the corresponding quarter last year.

In a statement here, Genus Overseas CMD I C Agarwal said, ''Demand for meters remains robust, given the Government focus on strengthening the electricity distribution system. Recently, the company had successfully raised US dollar 7.5 million through zero coupon foreingn currency convertible bonds to fund its expansion and moderanisation of its facilities.'' UNI AR GK SKB1746