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El Forge net profit up

CHENNAI: El Forge has reported a 65 per cent rise in sales to Rs. 16.90 crores in the first quarter ended June 30, 2004 from Rs. 10.26 crores while the net profit after taxation stood at Rs. 73.66 lakhs against Rs. 4.17 lakhs in the year-ago period. According to V. Srikanth, Executive Chairman, the company was exporting 20 per cent of its sales and the plan was to increase it to 50 per cent over a period.

— Our Bureau

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