The marginal growth in bottomline was attributed to the rising prices of certain raw material and components coupled with appreciation of European currencies over Indian rupee, the release said.
The rising prices of raw materials also seems to have taken a toll on the margins with the operating margin declining by 100 basis point to 11.53 per cent from 12.53 per cent over the corresponding quarter, analysts said. During the quarter under review, domestic sales grew by nine per cent while exports registered a growth of 20 per cent. For the six month period ended September 2002, the company posted a net profit of Rs 10.83 crore (Rs 10.67 crore). Turnover grew to Rs 159.95 crore (Rs 148.34 crore).