Ucal Fuel net soars 350%

CHENNAI: Chennai-based Ucal Fuel Systems manufacturing carburetors, fuel injection system and automotive pumps, clocked a 350% jump in net profit at Rs 3.53 crore in the first quarter ending June 30, 2010 against Rs 78.40 lakhs in the same period last year. Net sales increased by 37% to Rs 108.70 crore ( Rs 77.47 crore).

The other income came to Rs 90.12 lakhs ( Rs 16.32 lakhs). Ucal said its growth came from increased market in the fast growing two wheeler segment. It has made a breakthrough with Fiat in India and Poland for its pumps which were developed by Ucal’s R & D.

CMD, Jayakar Krishnamurthy said " Our objective is to develop Ucal Fuel as an engineering solutions company for the automotive segment providing new and improved products and solutions through its R & D efforts".

The company is actively promoting products engineered, designed and manufactured in house. Its R & D wing has made significant strides in ensuring the reliability of the carburetor as a low cost solution to tighter emission norms of the future.

Ucal has started work on building new facilities at Bawal in Haryana and Mahindra city SEZ near Chennai. They will be ready by November 2010 and March 2011 respectively.

The merger of subsidiary, Ucal machine tools will enable Ucal fuel to consolidate its locations and improve operational efficiency to provide integrated services to customers.