Healthcare equipment maker Opto Circuits Q1 net up 40 pc at Rs 116.38 cr

NEW DELHI: Healthcare equipment maker Opto Circuits on Tuesday said its consolidated net profit rose by 40.06 per cent to Rs 116.38 crore for the first quarter ended June 30, 2011, over the same period previous fiscal.

The company had a net profit of Rs 83.09 crore in the same period previous fiscal, Opto Circuits (India) said in a filing to the Bombay Stock Exchange (BSE).

Net sales of the company rose to Rs 520.81 crore for the first quarter ended June 30, 2011, compared to Rs 291.98 crore in the same period last fiscal.

Commenting on the results Opto Circuits CMD Vinod Ramnani said: "The Opto Circuits Group has efficiently integrated the operations and functions of its US businesses, strengthening it further".

"Keeping in line with this, we have also restructured our medical equipment and interventional devices business segments to save cost and obtain operational efficiency. We are confident of achieving our growth objectives for the year," Ramnani added.

On a standalone basis, the company posted a net profit of Rs 57.13 crore for the first quarter, compared to Rs 56.95 crore in the same period previous fiscal.

The company's net sales rose to Rs 151.68 crore for the first quarter ended June 30, 2011, as against Rs 127.49 crore in the same period last fiscal.

Shares of Opto Circuits today closed at Rs 275.10 on the BSE, up 0.55 per cent from previous close.