Visaka Industries Limited, a Hyderabad based company engaged in manufacturing of cement asbestos products, synthetic blended yarn and garments, reported a net profit of Rs 8.04 crore for the fourth quarter ended March 31, 2009, as compared with Rs 3.78 crore in the corresponding quarter the previous year, reflecting an increase of 112.69 per cent. Turnover grew 48.41 per cent to Rs 159.69 crore, as against Rs 107.60 crore.
For the full year, net profit increased 368.44 per cent to Rs 35.93 crore, as against Rs 7.67 crore in the previous year, while turnover was at Rs 573.93 crore, as compared with Rs 433.13 crore, up 32.5 per cent.
“The significant growth in profitability was on account of better price that we had realised during the year,” Narayanan, president (finance) and company secretary, told Business Standard.
