Bartronics India today reported a 218% growth in net profit at Rs 10.94 crore for the third quarter ended December 31, 2007 when compared with Rs 3.44 crore during the same period last year. Total income was at Rs 70.16 crore for the quarter, as against Rs 17.57 crore in the corresponding quarter last year, reflecting an increase of 299%.The company's basic earnings per share (EPS) stood at Rs 6, as compared with Rs 1.89 during the same period last year.Speaking to Business Standard, Sudheer Rao, managing director, Bartronics, said: "The growth in net profit and total income was primarily driven by the increased utilisation of production capacity at our smart card manufacturing facility, besides a jump in our regular solutions business." Bartronics commissioned its 80-million smart cards a year facility at Medchal on the outskirts of Hyderabad in July 2007. The company is targetting 40 million cards during the current financial year.
