The Hindu Business Line : MRO-Tek net up at Rs 5.6 cr in Q3

MRO-TEK Ltd, a major provider of product-based solutions to access every network, earned a net profit of Rs 5.6 crore for the quarter ended December 2004 on total revenues of Rs 27.59 crore as against a net profit of Rs 2.77 crore on revenues of Rs 26.17 crore in the previous corresponding period.

The total revenue for the nine-month period ending December 2004 was Rs 88.75 crore (Rs 76.30 crore).

"Our revenue came from across-the-broad strength of our business to provide last-mile access to telecom service providers and enterprises," said the Chairman and Managing Director of MRO-Tek, Mr S. Narayanan. "And our long-term approach to growing new businesses is paying off. eSONA-100 has been deployed in India with a few customers and we are closely monitoring performance of the product."

With respect to the Customs duty dispute, final orders have been received from the appropriate authorities, Mr Narayanan said. Duly considering legal and business prudence, the company has consented to paying the differential duty amount claimed. An amount of Rs 3.40 crore has been earmarked, in addition to Rs 1.50 crore provided during the previous financial quarter. An amount of Rs 3.10 crore has also been provided towards interest and penalty charges.

The company had initiated steps to buy back its own shares, but it had deferred the plan pending clearance from the Securities Exchange Board of India, he said.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Thanks to thrust on rural telephony — VSAT sector set for faster growth in 2005

Fortune Info Q3 net up

MRO-Tek net up at Rs 5.6 cr in Q3

Vignette, Virtusa to co-develop products

NetD opens centre in Hyderabad

New customers for Oracle suite

CSC India forays into R&D

`Offshore product development will be key differentiator'

Looking back

CMC centre gets Level 5