Bartronics net up three-fold to Rs 28.83 cr

City-based Bartronics Limited, a provider of bar coding solutions, reported a three-fold increase in net profit to Rs 28.83 crore for the quarter ended March 31, 2010, as compared with Rs 9.56 crore during the same time last year. Revenues during the quarter stood at Rs 264.93 crore, up 59.5 per cent from Rs 166.1 crore.

For the full year 2009-10, the company posted a net profit of Rs 106.65 crore, up more than five times from Rs 20.64 crore last year. Revenues increased 43.71 per cent to Rs 845.04 crore, from 587.99 crore.

Sudhir Rao, managing director of Bartronics, said revenue growth and profitability were driven by traction in business from the domestic segment. India contributed Rs 599 crore revenues, he said, adding the domestic RFID segment gained strength as newer sectors had started adopting this technology

The company has an order book worth Rs 130 crore from smart cards and Rs 600 crore from the automatic identification and data capture business. It expects government, particularly Railways, to be a bigger consumer of its services this year, according to a release.