Net profit of Bartronics Ltd has gone up to Rs 74 crore in the quarter ended September 30 against Rs 16.55 crore in the same quarter last year. The turnover went up to Rs 241 crore (Rs 224 crore) in the quarter. Salary costs rose to Rs 16 crore (Rs 6 crore).
The company's export receivables were put at Rs 502 crore.
But the company said that there was no reason to worry and that it did not require any provisions at this stage.
“This has been outstanding for more than six months. Because of economic slowdown and consequent recession, there have been delays in recovery of such amounts,” the company said, replying to a qualification by auditors in their report.