JK Tyre, Quintegra & Bartronics Q4 results

CORPORATE SCORECARD

JK Tyre, India's second largest manufactures of radial tyres for heavy vehicles, increased its second quarter (January-March) net profit by 67.41 per cent to Rs 23.02 crore compared with Rs 13.75 crore in the previous comparable quarter.

The company follows a October-September financial year.

Total revenues increased by 11.12 per cent to Rs 829.96 crore (Rs 746.84 crore) in the quarter.

 

Commenting upon the company's performance, Raghupati Singhania, vice-chairman & managing director, said, "JK Tyre continues to maintain its growth momentum with sales and profits achieving newer heights. This pace will get accelerated with the implementation of expansion projects now underway."

The company is one of the few truck majors in the country manufacturing truck and bus radials. The company has recently announced acquisition of 100 per cent stake in Tornel, Mexico. Strategic location of Mexico offers the company free access to NAFTA trade block and emerging economies of the central and southern America.

The combined capacity after the acquisition will become 940 tonnes per day, making JK Tyre the largest Indian four-wheeler tyre company with turnover of over $1 billion (Rs 4,000 crore).

Quintegra Q4 net jumps 92%

Quintegra Solutions has reported a revenue growth of 239 per cent to Rs 104.33 crore for the fourth quarter ended March 2008 as against Rs 30.72 crore in the corresponding period of the previous year. Net profit on a consolidated basis increased by 92 per cent to Rs 5.51 crore (Rs 2.86 crore) in the quarter.

Its standalone revenues for the fourth quarter increased to Rs 25.67 crore (Rs 17.37 crore) for the corresponding period of the previous year. Net profit increased to Rs 2.77 crore (Rs 1.99 crore), up 38 per cent.

For the full year, its topline grew by 406.18 per cent to Rs 390.30 crore (Rs 77.10 crore). Net profit rose to Rs 35.15 crore (Rs seven crore), registering a growth of 402.02 per cent. Its standalone revenues for the year stood at Rs 90.20 crore (Rs 62.75 crore). Net profit went up to Rs 12.56 crore (Rs 6.64 crore), posting an increase of 89.09 per cent.

Bartronics net soars 343%

Stabilisation of smartcard production coupled with increased revenues from overseas subsidiaries resulted in Bartronics India recording a 342.63 per cent jump in net profit at Rs 20.14 crore for the fourth quarter ended March 2008 compared with Rs 4.55 crore in the corresponding previous period.

During the quarter, the automatic identification, data capture and radio frequency identification solutions provider's net sales increased 494.85 per cent to Rs 106.30 crore (Rs 17.87 crore).

"We faced a few production-related issues, including machinery breakdown, at our 80-million capacity smartcards facility in Hyderabad during the second and third quarter.

We, however, stabilised operations and utilised 30 million production capacity in the last quarter. Besides, our wholly owned subsidiaries in the US and Asia have started yielding revenues, which reflected in the quantum jump in our topline and bottomline," Sudhir Rao, managing director of Bartronics, said.

For the full year too, the company reported a rise of 259.36 per cent in net profit at Rs 48.37 crore (Rs 13.46 crore), while net sales rose 324.85 per cent at Rs 269.74 crore (Rs 63.49 crore).

With plans to achieve 70-million smartcards production utilisation and increased revenue generation from subsidiaries abro ad, Bartronics expected its topline to touch Rs 500 crore during the current financial year, Rao said.