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Saturday, May 08, 2004

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MRO-TEK net up 36 pc; to pay 20 pc

Our Bureau

Bangalore , May 7

LAST-MILE access solution provider, MRO-TEK Ltd, has reported a 36 per cent jump in net profits and 14.5 per cent growth in its revenues for the year ended March 31, 2004 over last year.

The company reported net profit of Rs 3.67 crore on turnover of Rs 110 crore against net profit of Rs 2.7 crore on a turnover of Rs 96.53 crore earlier.

The board of directors have recommended a dividend of Re 1 per share (20 per cent on par value of Rs 5 each).

For the fourth quarter ended March 31, the company registered a profit of Rs 1.33 crore on revenue of Rs 25.63 crore compared to a loss of Rs 96 lakh on revenues of Rs 26.02 crore in the corresponding previous period.

"This year we gained momentum in our performance. The momentum for building IT infrastructure in the country should benefit MRO-TEK in the next few years," said Mr S. Narayanan, Chairman and Managing Director.

Export earnings were up by over 100 per cent at Rs 7.4 crore (Rs 3.6 crore). The company expects a business of Rs 60 crore from its global operations over the next three years.

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