New Delhi, April 26 (Inditop.com) In a major turnaround, Samtel Color, the flagship company of electronics giant Samtel group, Monday posted a net profit of Rs.76 crore ($17.11 million) for fiscal 2009-10 against a loss of Rs.75 crore for the nine month period ended March 31, 2009.
For the fiscal ended March 31, the company has declared a consolidated revenue of Rs.1,114 crore as compared to Rs.717 crore during the nine-month-period ended March 31, 2009, a company statement said.
The consolidated revenue for the quarter ending March 31 increased by 10 percent to Rs.269 crore in comparison to Rs.245 crore for the corresponding quarter of the previous year.
The company’s net profit after tax increased by 129 percent to Rs.8 crore in comparison to a loss of Rs. 27 crore for the corresponding quarter in the previous year, “thus showing a complete turnaround of the result”, the statement said.
Samtel Color’s EBIDTA has shown an increase of 1,336 percent during the quarter by rising to Rs.31 crore in comparison to a loss of Rs.2 crore in the previous year.
Samtel Color manufactures the widest range of colour TV tubes in India from 14-inch to 29-inch and has a capacity of over 10 million picture tubes per annum. The company was incorporated in 1986 with technical collaboration with Mitsubishi Electric, Japan to manufacture colour picture tubes (CPTs).
Samtel is India’s largest integrated manufacturer of a wide range of displays for television, avionics, industrial, medical and professional applications, TV glass, components for displays, machinery and engineering services. The group employs 6,000 people in nine world-class factories and has an annual turnover of Rs.1,200 crore.
