VAMA posts Rs 34 cr revenue in Q4

VAMA Industries Ltd, a city-based IT infrastructure and ITes company, on Tuesday said it has posted consolidated revenue of Rs 34.44 crore during the fourth quarter ending March 31, marking nearly 92 percent growth over the same period last fiscal.

The BSE-listed company earned a net profit of Rs.1.63 crore during the quarter, up by 84 percent over the previous last quarter, as per its audited financial results for the Q4 and the year ended March 31.

Riding on successful completion of various 'storage management' projects of the central government, the company posted annual consolidated revenue of Rs 61.43 crore and a profit after tax of Rs 3 crore.

"Our strong revenue growth during the year reflects the vibrancy of our business, driven by successful implementation of various central government projects on storage management. The company is excited about the success and future opportunities in the sector we operate in," said its Chairman and Managing Director Rama Raju V.A.

The board of directors recommended a final dividend of Rs.0.10 (5 percent) per equity share of Rs 2 each for 2016-17.

VAMA is a niche market player in product design and development in addition to the mechanical CAD and CAE services.

It has the capability to assist in any phase of product design and development. Customers of VAMA are reputed North American companies and some of the customers are Fortune 500 companies.

--IANS

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