Opto Circuits Q3 net up 31% to Rs 125 cr

Opto Circuits (India) today said its consolidated net profit rose by 30.74% to Rs 125.08 crore for the third quarter ended December 31, 2011, over the same period last fiscal.

The company had posted a net profit of Rs 95.67 crore in the year-ago period, Opto Circuits said in a statement.

Net sales of the company rose to Rs 611.29 crore in the quater under review compared to Rs 417.65 crore in the same period previous fiscal.

The company's board, which met today, has recommended three equity bonus shares for every 10 fully paid equity shares, subject to the approval of the shareholders.

Commenting on the results, Opto Circuits CMD Vinod Ramnani said, "Our initiatives and efforts toward expanding our presence in emerging markets, with a renewed focus on India, have begun to bear fruit.

"We've also been able to accelerate sales growth in the interventional devices segment, an effort largely supported by excellent clinical data on the products presented at various prestigious medical conferences."

On a standalone basis, the company posted a net profit of Rs 60.41 crore in the third quarter, compared to Rs 56.22 crore in the same period previous fiscal.

Shares of Opto Circuits today closed at Rs 261.45 on the BSE, down 1.02% from its previous close.