MRO-TEK posts Rs 77.35 lakh loss

MRO-TEK Ltd, a Bangalore-based network solutions provider, has posted a net loss of Rs 77.35 lakh for the three months to December 2004, after allowing for a Rs 6.4 crore customs duty on items it imported between April 1998 and April 2000, a company release said.

Revenues for the quarter were Rs 27.59 crore, up 5.4 per cent year-on-year, a company release said.

The Rs 6.4 crore expense includes "Rs 3.3 crore towards duty, and an estimated Rs 3.1crore towards interest and penalty," a company release said. This was "in addition to Rs 1.5 crore provided during the previous financial quarter," the release said.

Revenues for the nine months to December 2004 were Rs 88.75, up 16 per cent year-on-year, the release said.

"Our revenue came from across-the-board strength of our business to provide last mile access to telecom service provider and enterprises." S Narayanan, CMD of the company, said.