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BANGALORE: Kennametal Widia India Ltd, a machine tools manufacturer, has posteda net profit of Rs 7.89 crore during the second quarter of 2004 against a net loss of Rs 2.07 crore during the second quarter of 2003.

The net income rose to Rs 67.54 crore (Rs 57.41 crore). The recovery has been attributed to strong economic buoyancy resulting in greater demand for its products, apart from its cost rationalisation.

For the six-month period (July-December 2004), the company earned a net profit of Rs 18.9 crore on an income of Rs 131.3 crore.

It had posted a net profit of Rs 24.8 crore for the entire fiscal ended June 2004 on a net income of Rs 230.8 core.

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