Bartronics net up 343% y-o-y

During the quarter under review, the automatic identification, data capture and radio frequency identification solutions provider's net sales increased 494.85 per cent to Rs 106.30 crore, as against Rs 17.87 crore.

"We faced a few production-related issues, including machinery breakdown, at our 80-million capacity smartcards facility in Hyderabad during the second and third quarters of 2008. We, however, stabilised operations and utilised 30 million production capacity in the last quarter. Besides, our wholly-owned subsidiaries in the US and Asia have started yielding revenues, which reflected in the quantum jump in our topline and bottomline," Sudhir Rao, managing director of Bartronics, told Business Standard.

For the full year too, the company reported a rise of 259.36 per cent in net profit to Rs 48.37 crore, as compared with Rs 13.46 crore last year, while net sales rose 324.85 per cent to Rs 269.74 crore, as against Rs 63.49 crore the previous year.

With plans to achieve 70-million smartcards production utilisation and increased revenue generation from subsidiaries abroad, Bartronics expects its topline to touch Rs  500 crore during the current fiscal, Rao said.