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New Delhi, June 28 Electrical switchgear and lighting equipment maker Indo Asian Fusegear Ltd on Thursday reported a 24 per cent increase in net profit for the quarter ended March 31 at Rs 4.9 crore. The company’s turnover grew 47 per cent at Rs 68.8 crore for the quarter ended March 31, 2007, against Rs 46.8 crore for the corresponding period in the previous financial year, a company release said.

For 2006-07, the company’s net profit grew 10 per cent at Rs 17.38 crore. Total turnover increased 44 per cent to touch Rs 224.9 crore for 2006-07 fiscal as compared to Rs 155.7 crore in the previous year, the release said.

Exports showed a strong growth of 70 per cent, increasing from 14.6 per cent of sales in 2005-06 to 17.1 per cent in 2006-07, with higher focus on Europe, Latin America and Africa, a company release said.

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