Business Daily from THE HINDU group of publications
Tuesday, Apr 29, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Tuesday, Apr 29, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate Results
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Bearings, Castings & Forgings Nelcast reports 32% increase in net profit Our Bureau Chennai, April 28 Nelcast Ltd reported 32 per cent increase in net profit for the fiscal year ending March. The company reported Rs 26 crore as net profit against Rs 19.77 crore last year. Addressing the media the Managing Director of the company, Mr J. Joseph, said the company reported turnover of Rs 403.65 crore against Rs 350.10 crore last year. With aggressive growth plan and enhanced production capacity the company targets to cross Rs 600 crore in turnover and achieve production of over 1 lakh tonne this year. The company expects revenues from exports to cross Rs 100 crore this year from Rs 52 crore in fiscal 2008, he said. The company is planning to further enhance its installed capacity to 1.5 lakh tonne a year, at an investment of Rs 30 crore. More Stories on : Bearings | tings & Forgings
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