Stone India post Rs 3.14 cr net profit, , up by 20%

Kolkata, Jul 25 (UNI) Stone India Limited has posted net profit of Rs 3.78 crore in the first quarter of 2007-08 compared to Rs 3.14 cr in the corresponding quarter of previous year, registering a growth of 20 per cent.

A company release said the company has reported a turnover of Rs 23.78 crore in the quarter ended June 30, 2007.

It said the company started the new financial year, receiving the single largest order in its history, valued at Rs. 140 million, from the Ministry of Defence.

Stone India has recently announced an exclusive understanding with ZRJC Ltd, Guangzhou, China for manufacturing&supply of Air Conditioning Systems along with microprocessor based control system for railway passenger and metro coaches.

With increasing emphasis on running of Air Conditioned coaches by Indian Railways and a number of Metro Projects on the anvil, these products should add substantial turnover of the Company in the future.

The company, after competing against reputed European manufacturers of Air Brake Systems, has received an initial order of Rs. 8.5 million for supply of Wagon Air Brake System, from an internationally reputed Chinese Wagon Builder, who also supplies wagons to countries like Australia, Asia, East Europe, Russia, Africa, etc.

UNI