Kaveri Seed H1 income zooms

Hyderabad, Oct 30 (UNI) Kaveri Seed Company Limited has registered a total income of Rs 7,248.36 lakh for half year ending September 30, 2007 as against Rs 4,495.97 lakh in the same period last year, registering an increase of over 60 per cent.

According to a company release here today, the earnings before interest, tax,depreciation and amortisation (EBITDA) was Rs 2,281.53 lakh (Rs 991 lakh) while PAT was Rs 1,347.68 lakh (Rs 596.84 lakh).

During the half year, the total income, EBITDA and PAT have grown by 61.21 per cent, 130 per cent and 130 per cent respectively as compared to the corresponding half year of the previous year.

The operating margin (EBITDA) and PAT rose to 31.48 per cent (22.05 per cent) and 18.97 per cent (13.27 per cent) respectively.

The board of directors decided in-principle to invest Rs 30 crore towards purchase of 228 acre (approximately) of agricultural land near Hyderabad for R&D purpose out of the IPO proceeds.

Negotiations were in progress with machinery suppliers for cob-drying plant, seed processing units and upgradation of existing seed prrocessing units.

UNI