Texmaco Rail & Engineering posts a lower net profit of Rs 93.05 crore

KOLKATA : Texmaco Rail & Engineering posted a lower net profit of Rs 93.05 crore for the year ended March 31, 2012, after providing for a tax liability of Rs 43.20 crore. Gross turnover during the said period stood at Rs 937.96 crore (excluding the value of free supply inputs of Rs 334 crore provided to the company by Indian Railways and other clients) as against Rs 1111.44 crore in the previous year.

Gross profit for the year (PBDT) and profit before tax (PBT) were lower at Rs 145.44 crore and Rs 136.26 crore respectively, the company release stated. The company's board of directors have recommended a dividend of 100 % for the fiscal 2011-12. It has orders worth Rs 1528 crore presently.

Meanwhile, the company's 50:50 joint venture project with UGL Rail, Australia, is expected to commence production from October 2012. The plant would manufacture locomotive and freight car components predominantly for exports. The venture will also look at opportunities for rolling stock maintenance and refurbishment.