Mumbai, Feb 27 : Riding on the back of a power supply shortage in thecountry leading to an increased off-take of gensets, Wartsila India hasreported a 12.5 per cent increase in net profit to Rs 16.2 crore for theyear ended December 2000.The company reported a net profit of Rs 14.4 crore in the previous year. Netsales during the year rose by 6.2 per cent to Rs 340.2 crore as against Rs319.4 crore in the last year.
The company has registered a 13.5 per cent increase in net profit to Rs 4.2crore for the fourth quarter ended December 2001, as against Rs 3.7 crorefor the corresponding quarter in the previous year. Net sales during thequarter went up marginally to Rs 95.1 crore as against Rs 93 crore duringthe previous quarter. The company had major projects scheduled forcommissioning during the year which undoubtedly improved the topline andthereby the bottomline.
The company has informed the Bombay Stock Exchange (BSE), that the board hasrecommended a dividend of 40 per cent, inclusive of the dividend tax for theyear ended December 2000.
Other income for the quarter increased by 66 per cent to Rs 50 lakh over thecorresponding quarter, while for the entire year it was tagged at Rs 1.8crore - up by 20 per cent over the previous year.
Analysts attribute the excellent performance of the company during thefiscal to a satisfactory order book position coupled with orders from powerplants from state electricity board and IPPs (independent powerproducers).
Besides, the DG sets, the company's turnover is also believed to be boostedby its auxiliary units and pipe modules business. The company has identifiedIPPs as a key focus area and it is estimated to cover around 30 per cent tothe turnover in the next few years.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
