Banco reports 9.2 per cent increase in sales in Q4

Mumbai, Jun 23 (UNI) Banco Products India Limited, a leading manufacturer of aluminium radiators and gaskets, today reported a net sales of Rs 81.2 crore for the quarter ended March 31, a jump of 9.2 per cent, as against Rs 74.4 crore posted in the same period of the last fiscal.

Net Profit for the fourth quarter stood at Rs 15 crore, a growth of 142 per cent, as compared to Rs 6.2 crore posted in the same period of last year.

Net sales for the year ended March 31, grew by 14.9 per cent to Rs 298.9 crore, compared to Rs 260.2 crore in the year ago period, while net profit for the year ended March 31, rose by 71.4 per cent to Rs 43.3 crore, as against Rs 25.3 crore, posted in the same period of last fiscal.

Commenting on the results, Mr Vimal K Patel, Chairman, Banco Products India said, ''It is a combination of factors namely, better product mix, introduction of new products and better cost controls, which have played a major role in improving operating margin during the FY08.'' UNI VK SR AG1756