Birla Precision net sales up in Q1FY11

Continuing its success for the second year, Birla Precision Technologies Ltd., part of the Rs 3,000 crore Yash Birla Group conglomerate, has posted a 11 % increase in revenue (unaudited) of Rs 2,764.38 lakhs for the quarter ended June 30th, 2011 as compared to the Q1 of the corresponding period last year

Birla Precision Technologies Ltd has posted an impressive rise in Operating Profit to Rs. 420.31 lakhs as against Rs. 259.06 lakhs in the corresponding quarter a year ago a jump of 62 % QoQ. The company clocked a net profit of Rs. 233.41 lakhs for the first quarter of the financial year 2011-2012 a jump 69 % QoQ. The results were declared at a Board meeting on August 11, 2011 to announce the results for the quarter ended June 30th, 2011.

Expressing his delight, Mr. Sachin Sanghvi, Chief Financial Officer, Engineering Business, Birla Precision Technologies Ltd. said,” The last quarter has shown a rise in the auto and engineering sector boosting demand for our business. Also the increase in exports to US & European countries have improved. The domestic market is expected to grow manifold which provides Birla Precision a competitive edge for its business. In future we expect to increase the demand for our products as the sector is expanding.”