Chennai, July 19 (UNI) Leading manufacture of Antennas and R F products for wireless industry, Kavveri Telecom Products Limited, today announced its growth in net profit of Rs 2.27 crore for Q1 over the corresponding period of previous year, a growth of 350 per cent.
Talking to newspersons here, Company Managing Director Shivkumar Reddy said "Kavveri recorded net sales of Rs 18.6 crore and net profit of Rs 2.27 crore for Q1 this year against Rs 4.6 crore and Rs 65 lakh respectively for the corresponding quarter last year".
He said Kavveri had won orders from all pan-India telecom operators and OEMs with whom rate contract exist.
The order book and the projected outlook indicate that Kavveri would easily double it's turnover of Rs 100 crore in this fiscal, he said and added the company would upgrade its manufacturing facility at Jigani.
He said the plant was being upgraded to take on manufacturing commensurate with the volume of business that was on hand plus the expected volumes over the next two to three years.
"The company expects to contract manufacturing at this upgraded facility with an investment of Rs 15 crore during the current fiscal", he said.
He pointed out after acquiring a Canada-based Til-Tek and DCI, Kavveri was not looking at leveraging the technological strengths of their products by manufacturing them in India for the global market.
UNI
Talking to newspersons here, Company Managing Director Shivkumar Reddy said "Kavveri recorded net sales of Rs 18.6 crore and net profit of Rs 2.27 crore for Q1 this year against Rs 4.6 crore and Rs 65 lakh respectively for the corresponding quarter last year".
He said Kavveri had won orders from all pan-India telecom operators and OEMs with whom rate contract exist.
The order book and the projected outlook indicate that Kavveri would easily double it's turnover of Rs 100 crore in this fiscal, he said and added the company would upgrade its manufacturing facility at Jigani.
He said the plant was being upgraded to take on manufacturing commensurate with the volume of business that was on hand plus the expected volumes over the next two to three years.
"The company expects to contract manufacturing at this upgraded facility with an investment of Rs 15 crore during the current fiscal", he said.
He pointed out after acquiring a Canada-based Til-Tek and DCI, Kavveri was not looking at leveraging the technological strengths of their products by manufacturing them in India for the global market.
UNI
Oneindia Login