Bartronics zooms 393.50%

Hyderabad, July 21 (UNI) Bartronics India Ltd, Hyderabad-based company supplying end-to-end solutions for Automatic Identification and Data Capture and Radio Frequency Identification, today announced it had posted a 393.50 per cent rise in net profit at Rs 23.52 crore for the first quarter ending June 30, 2008.

The net profit in the corresponding period of the previous fiscal was Rs 4.76 crore.

The company reported a growth of over 368.82 per cent in net sales at Rs 119.85 crore for the period ended June 30, 2008 as against Rs 25.56 crore in the last financial year, according to a press release here.

The company's basic earnings per share rose to Rs 8.53 for the quarter ended on June 30, 2008 as compared to Rs 2.67 in the corresponding period last fiscal.

''The strong growth has been the result of continued focus on the smart cards business by the company and its recent expansion in the US and the South Asian Markets,'' Bartronics India Limited Managing Director Sudhir Rao said.

With a strong order book position across all the markets, the company expects to drive its niche market image to greater heights post integration of its business units that will be completed by September 2008, Mr Rao said.

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