Opto Circuits (India) Ltd. (OCI), India’s leading manufacturer of medical diagnostics and interventional products, today announced its financial results for the first quarter ended June 30th, 2008.
Consolidated sales of the group stood at Rs.177.37 crore for the quarter as against Rs. 96.50 crore for the corresponding period in the previous year, an increase of 83.80%.
Consolidated profit after tax for the current quarter stood at Rs.44.99 crore as against Rs.27.81 crore for the corresponding period in the previous year, higher by 61.77%.
The basic earnings per share increased by 62.03% in the quarter from Rs.4.78 per share as against 2.95 (restated).
The revenue and profitability of the company stands enhanced with offering of expanded product line along with entering into new markets. The company, in addition to pulse oximetry, patient monitoring has also added vital sign monitors and anesthesia monitors to the product range.
Management Comments
“The Company is moving forward with its enhanced product portfolio and consolidating its product range. The Company’s effort in introducing new products and entering into new geographies has translated well for the Group. The Company has built very strong reputation for high quality innovative products and services.” says Vinod Ramnani, Chairman & Managing Director, OCIL.
About Opto Circuits (India) Ltd.
Opto Circuits (India) Ltd. (OCIL) (BSE Code: 532391; NSE Symbol: OPTOCIRCUI) is a leading manufacturer of healthcare equipments in India. The product profile includes digital thermometers, sensors, probes, pulse oximeters, patient monitoring systems, Stents, Catheters and innovative products in the pipeline. In 2001, OCIL acquired 60per cent stake in Advanced Micronic Devices to market its equipments in India. OEMs contribute (80per cent) of sales while MediAid (100per cent US-based subsidiary) contributes the balance. MediAid came into existence with the acquisition of the patient monitoring division of Palco Labs, US, in end-2003. and now markets OCI’s products in the US markets directly. OCI acquired EuroCor Gmbh during 2006. EuroCor manufactures Cardiac Stents of various types, including Drug Eluting Coronary stents used in critical cardiac care. In April 2007, OCI ventured into new product segments - Urology, Gastroenterology, Gynecology and Orthopedics after acquiring Devon Innovations Private Limited (Bangalore) and Ormed Medical Technology Limited (Chennai). Visit us at www.optoindia.com.
