Scooters India shows better results

During 2005-06, Scooters India Ltd (SIL) has enhanced its reserves to Rs 16.21 crore, as against Rs 14.65 crore in the previous year.

The gross out-run this year has been Rs 175.62 crore, as compared with Rs 149.58 crore last year, registering an increase of 17.41 per cent.

The figures were provided yesterday by PK Datta, chairman and managing director of the company, in his address to shareholders, indicating the progress made by the company during 2005-06. P Muthusamy, director (finance), was also present.

"The company has shown all-round improvement on key parameters as compared to last year. Currently, the challenge is to improve profitability and asset quality, along with strong capital backing, to support expansion and use the human and financial capital to add value to shareholders," said Datta.

Profit before tax of the company has gone up by 36.65 per cent from Rs 139.20 lakh last year to Rs 190.36 lakh in 2005-06.

Datta said with the government promoting use of CNG/LPG vehicles in metros and bigger cities, a new market segment has been created for passenger application thus providing excellent growth potential for the company.