ECIL turnover up 45 per cent to Rs 1017 cr

Electronics Corporation of India Limited (ECIL), a public sector enterprise, posted a gross turnover of Rs 1,017 crore and a profit before tax (PBT) of Rs 120 crore during 2006-07.

This marks a growth of 45.28 per cent in turnover and 130.76 per cent jump in PBT compared with the previous year's turnover of Rs 700 crore and a PBT of Rs 52 crore.

According to ECIL Chairman and Managing Director K S Rajasekhara Rao, the contributing factors to the rise in turnover and profit are in-house R&D capabilities, which facilitated the corporation in developing critical sub-systems relating to defence and nuclear programmes indigenously.

ECIL, which is celebrating its 40th anniversary, has been set up by the Union government with a mandate to take care of the requirements of strategic sectors of the country.

Stating that ECIL was aiming at quantum growth in terms of turnover, Rao said the organisation currently had orders on hand worth Rs 500 crore, while an additional Rs 800 crore orders were in the pipeline.