Samtel Colour Turnover Rises 6%

New Delhi, May 30: | Updated: May 31 2002, 05:30am hrs
Samtel Colour has reported a 5.5 per cent growth in turnover to Rs 703.39 crore for the year ended March 2002. Operating profit for the year improved to Rs 74.65 crore from Rs 71.52 crore reported in the previous year. After providing for deferred tax provision of Rs 16.1 crore, net profit stood at Rs 25.64 crore. Earning per share (EPS) for the year stood at Rs 6.33.

The board has recommended a dividend of 15 per cent for the year 2001-02.

The coming year is expected to be bouyant for us because of the soccer world cup in May-June and cricket world cup later in February, Samtel Colour chairman and managing director Satish Kaura said.

As part of the consolidation initiatives, Samtel Colour has decided to buy the deflection yoke unit of Samtel India as a going concern having an annual capacity of three million units.

The purchase of the unit will help the company to create synergy and economies of scale in its operation. Backward integration will also lead to assured supplies and access to design and development capability of various types of deflection yokes. The move will also further help in bringing greater transparency in the companys operations, a company official said.