MRO-TEK posts Rs 27.72 cr Q3 revenues

Tuesday, 28 January 2003, 08:00 Hrs
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MRO-TEK Ltd., a leading networking and last mile access solutions provider, Tuesday announced that its revenues for the third quarter stood at 27.72 crore as against 23.59 crores registering a growth of 17.5 % over the same quarter in 2001.

BANGALORE: The PAT for the quarter stood at 1.60 crore compared to 1.68 crore during Q3 of 2001-02 - a drop of 5%.

The revenues for the 9 months ended 31.12.2002 stood at Rs 67.53 crores with PBT at 5.60 crores & PAT at 4.14 crores while the revenues for the same period the previous year stood at 54.22 crores with PAT at 2.53 crores recording a 24.5 % growth.

The total income and resultant profit continued to register an increase over the corresponding figures of the previous year 25% and 55% respectively. Increased thrust on R&D activities resulted in higher revenue expenditure. Income from exports stood at 1.64 crore during the third quarter as against 0.19 crore during the same period in the previous year – growth of 132%.

Banking & finance, Insurance, Basic service providers and IteS companies have been the major contributors to revenues. MRO-TEK introduced the indigenously designed and manufactured copper to fiber converter into the market. Products that are major contributors to the revenues during the half-year have been 2MB modems, Compressed Voice Systems and Layer 3 switches.

S. Narayanan, Chairman & Managing Director, MRO-TEK LTD., said, "MRO-TEK has sustained stability, profitability and growth even during difficult times, we can confidently say that the tough times are behind us, although the market environment continues to be challenging. The markets are showing vibrancy and we expect pick up in 2003. Another positive move forward for us is our exports to Asia-pac region is gaining momentum."

H. Nandi, Managing Director, MRO-TEK LTD., said, "The networking and last mile access markets are seeing some hectic activity in India and in the Asia Pacific region. Over the past year we have strengthened our presence in India and in the Apac region to be ready for the opportunities. We have had some significant business and promising enquiries from the Joint venture in Malaysia. Market trends indicate great opportunities in the networking and access markets in India and the Apac regions."
Source: IANS

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