The Hindu Business Line : McNally Bharat PAT up 28% at Rs 22 cr

Kolkata, June 16 McNally Bharat Engineering Company Ltd, engineering turnkey project execution company, achieved a higher income of Rs 550.05 crore in 2007-08 compared with Rs 509.63 crore in 2006-07, an 8 per cent growth.

The profit after tax at Rs 22.40 crore (Rs 17.5 crore), posted a 28 per cent growth, according to company sources. The operating margin at 8.5 per cent was significantly higher than 6.04 per cent in the previous year. The company’s order book position as on March 31, 2008 amounted to Rs 2,300 crore.

The board of directors has recommended 10 per cent dividend for the year under review, the same as last year.

The company sources attributed the improved performance to factors such as higher margin resulting from the rise in high-value business and lower interest payout.

The outlook, according to the sources, is bright as the company hopes to post an income of Rs 1,000 crore in 2008-09 and maintain the operating EBIDTA (earning before interest depreciation and tax) at the level of 7.5 per cent, despite the challenges in the form of higher inflation and higher input costs.

The company, it is pointed out, will continue its strong presence in steel modernisation programmes of SAIL, port expansion projects of National Maritime Development Programme and capacity increase in non-ferrous metal sector.

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