Bartronics Q4 net dips 53%

Bartronics India Limited, a Hyderabad-based provider of automatic identification and data capture (AIDC) and radio frequency identification (RFID) solutions, witnessed a 52.53 per cent decline in its net profit to Rs 9.56 crore for the fourth quarter ended March 31, 2009, as compared with Rs 20.14 crore in the corresponding quarter last year. Net sales during the quarter stood at Rs 166.10 crore, as against Rs 106.3 crore, registering a growth of 56.25 per cent.

“The decline in profitability was mainly due to the pre-period expenses of Rs 32 crore, which we had booked entirely for the quarter as suggested by the auditors,” Sudhir Rao, managing director of Bartronics, told Business Standard. For the year ended March 31, 2009, the company reported a growth of over 55.26 per cent in net profit at Rs 75.11 crore, as against Rs 48.37 crore in the last financial year. Net sales for the full year stood at Rs 583.29 crore, as compared with Rs 269.74 crore in the previous year, up 116.24 per cent.