Bartronics Q2 net up 62.99 per cent

HYDERABAD,INDIA: Bartronics India Limited, a provider in automatic identification and data capture technology service, today said the company’s net profit for the second quarter ended September 30, 2008 stood at Rs. 2041.12 lakh, up by 62.99 per cent as compared to Rs. 1252.27 lakh posted in the same period of last financial year.

The net sales of the company stood at Rs. 16068.66 lakh for the quarter, which shows an increase of 136.8 per cent as compared to Rs. 6783.50 lakh in corresponding period of last financial fiscal year, said a press release.

Diluted earnings per share (EPS) increased by 45.30 per cent to Rs. 7.28 as compared to Rs. 5.01 in the corresponding period of last year, it said.

It reported net sales for the six months ended September 30, 2008 grew by 200.43 per cent to Rs. 28021.23 lakh compared to Rs. 9326.74 lakh in the corresponding period of last financial year.

The net profit for the six months ended September 30, 2008 rose by 152.18 per cent to Rs. 4360.08 lakh, as against Rs. 1728.92 lakh posted in the same period of last fiscal year, it added.

The diluted EPS for the first half of FY 2008 worked out to Rs. 15.83 as compared to Rs. 9.70 for the same period of last year, registering an increase of 63.19 per cent.

Sudhir Rao, managing director, Bartronics India Limited said, “The strong growth has been the result of continued focus on the smart cards business by the company. As we enjoy the first mover advantage in this niche sector, we will continue to grow across all segments in the coming quarter as well.”

He said the management has decided to retain the guidance announced earlier for the future performance.