Swine flu generates big orders for its thermometer.
Bangalore-based Opto Circuits India Ltd (OCIL), a manufacturer of medical diagnostics and interventional products, today reported a consolidated net profit of Rs 55.3 crore, a growth of 61.4 per cent for the fourth quarter-ended March 31, 2009 compared to the corresponding quarter last year. The rise in profits was boosted by a good demand for its products in the regulated markets in Europe and the US.
Its total income for the period rose 76.8 per cent to Rs 213.11 crore compared to the same period a year ago.
Its operatiing profit for the quarter more than doubled to Rs 65.98 crore compared to Rs 31.08 crore.
For year-ended March 31, 2009, the company reported a net profit rise of 60.3 per cent to Rs 209.4 crore as compared to the previous year. Its total income for the year rose 74.8 per cent to Rs 818.5 crore compared to the previous year. Operating profit for the full year went up 87.4 per cent to Rs 245.3 crore.
On a consolidated basis, 23 per cent of the turnover is from the Invasive segment, 75 per cent from the non-invasive segment and 2 per cent from other businesses. The company has two main business segments consisting of healthcare and information technology.
Vinod Ramnani, chairman and managing director, OCI, said, “New products to be launched from Criticare and Eurocor in the coming years are expected to give us a technology lead in the industry.”
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We also hope to access new geographies for both the segments over the present year.”
The outbreak of swine flu has generated huge demand for Opto’s products. It has got good orders for its thermometer in many markets across the world including the domestic market. The company presently has an order book of five months for this product due to the swine flu impact, Ramnani told Business Standard.
The earnings per share for the year went up to Rs 12.97 from Rs 8.09 a year ago.
The board of directors, which met here today, have recommended payment of dividend of Rs 4 per share on equity shares of Rs 10 each subject to shareholders approval.