Business Daily from THE HINDU group of publications
Tuesday, May 01, 2007
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Business Daily from THE HINDU group of publications Tuesday, May 01, 2007 ePaper |
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Corporate Results
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Engineering Pennar Industries posts 168 pc rise in Q4 net profit Our Bureau
Hyderabad April 30 Pennar Industries Ltd has recorded gross sales of Rs 152.60 crore and net profit of Rs 7.59 crore for the quarter ended March 31, 2007 as against total sales of Rs 117.74 crore and a net profit of Rs 2.83 crore for the corresponding quarter last year. This reflects a growth of 30 per cent in revenues and 168 per cent in profit respectively over corresponding quarters. The Chairman of Pennar Industries, Mr Nrupender Rao, told Business Line that the growth was driven by value-added products, whose contribution has gone up to 55 per cent now. These cover automobile profiles, railway and building and pollution control applications. The company has received orders of Rs 13 crore from cement manufacturing companies FL Smidth of Denmark and Hammon Research & Cotrell of Belgium for export of electrostatic precipitator electrodes. The company said it made breakthrough by procuring orders for the supply of special railway coach profiles.
Chennai plant
The company's fourth manufacturing facility at Chennai is nearing completion and the first phase of production is expected to start during the quarter. Mr Rao said: "they were in pursuit of acquisition in the auto component sector with the support of foreign investors and likely to close one shortly."
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