Opto Circuits Q1 net up 61.7%

Opto Circuits (India) Ltd (OCI), a maker of medical diagnostics and interventional products, today reported a 61.7 per cent rise in its net profit at Rs 44.99 crore for the first quarter-ended June 30, 2008, compared to the corresponding quarter last year.

The total income for the period went up 84 per cent to Rs 179.57 crore compared to the same period last year.

The rise in profits is mainly on account of the company’s entry into new markets and its expanded product line. The company, in addition to pulse oximetry and patient monitoring, has also added vital sign monitors and anaesthesia monitors to the product range during the period.

 

Commenting on the performance, Vinod Ramnani, chairman and managing director, Opto Circuits said, “The company is moving forward with its enhanced product portfolio and consolidating its product range. The company’s effort in introducing new products and entering into new geographies has translated well for the group. The company has built a very strong reputation for high quality innovative products and services.”

The basic earnings per share increased 62.03 per cent in the quarter to Rs 4.78 per share as against 2.95.