Texmaco Ltd Q1 profit up by 10 pc | business | Hindustan Times
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Texmaco Ltd Q1 profit up by 10 pc

business Updated: May 20, 2009 00:11 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Leading wagon maker and a Dr K.K. Birla group company Texmaco Ltd has reported a 10 per cent jump in net profit to Rs 75.84 crore for the year ended March 31, 2009 against Rs 69.09 crore in the previous fiscal.

The company's turnover rose 16 per cent to Rs 1,091.25 crore from Rs 943.52 crore, a Texmaco statement said. The company has recommended a dividend of 75 per cent on the equity capital.

For the fourth quarter ended March 31, 2009, the net profit dropped to Rs 17.42 crore against Rs 30.48 crore in the corresponding period in the previous fiscal. Gross sales also dipped to Rs 278.16 crore from Rs 313.10 crore.

The statement said Texmaco's rolling stock division clocked a 16 per cent jump in turnover and it was awarded the highest order of 3,455 wagons by the Railways for 2008-09.

Texmaco, which has set up a joint venture with United Group of Australia, is exploring the option of set up a facility to manufacture hi-tech wagons and locomotive coach frames.