Opto Circuits net profit rises by over 88%

BANGALORE: Developer and manufacturer of patient monitoring systems Opto Circuits posted a consolidated net profit of Rs 209.34 crore for the March ended quarter, a jump of over 88% compared to same period last year. Total consolidated income clocked in by the company was Rs 681 crore, an increase of 21% when compared on a like to like basis.

With new product launches and market entries, strengthened presence in emerging markets and cost-saving initiatives through integration of various businesses, we have seen a surge in our revenues. Our aim is to continue improving revenues, profitability and enhance shareholders value,” said Vinod Ramnani, Chairman and Managing Director in a statement released to the press.

However when compared on a standalone basis, Opto Circuits posted a decline if 25.55% in their net profit to Rs 59.16 crore compared to same period last year. The board of directors has recommended a dividend of Rs 3 a share but is yet to get the go ahead from shareholders.
Shares of the company stood at Rs 174.25, down by 0.06% on the BSE on Tuesday.