ECIL profit zooms to record 131 per cent

Hyderabad, Apr 10: The Electronics Corporation of India (ECIL), has posted a record profit of Rs 120 crore on a gross turnover of Rs 1,017 crore in 2006-2007 representing 45 per cent increase in sales and 131 per cent increase in Profit Before Tax (PBT) over the previous year.

''The performance has been possible due to support from the Department of Atomic Energy (DAE), especially Bhabha Atomic Research Centre and Nuclear Power Corporation of India Limited, Department of Space, and Ministry of Defence,'' Company Chairman and Managing Director K S Rajasekhara Rao said.

The company which comes under the DAE, had recorded Rs 700 crore business and Rs 22 crore profit the previous year.

Mr Rao said the contributing factors to the excellent performance were the in-house R&D capabilities which facilitated ECIL in developing critical sub-systems indigenously relating to Defence and Nuclear Programmes that have in turn helped overcome technology denials in strategic areas to the nation.

''The company is evolving itself as a national asset in the field of strategic electronics.

''Currently it has an order book of Rs 500 crore with another Rs 800 crore in the pipeline. It is looking for at least 45 to 50 per cent growth in business in coming years.

''The added significance is its contribution in the supply of EVMs to the Election Commission of India,'' he added.

UNI