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Texmaco's improved profitability

Special Correspondent

KOLKATA: Taxmaco, belonging to the K. K. Birla group, has improved its profitability in the first half of the current fiscal, clocking a 20 per cent growth in income and a 46 per cent rise in its post-tax profit as compared to the same period in 2005-06. While total income stood at Rs. 207 crore, the profit after tax was Rs. 10.50 crore.

The steel foundry division of the company, which contributed nearly 50 per cent of the profit, is expanding the capacity. Nearly 50 per cent of the production will be earmarked for exports, according to a company release.

Although orders from the Railways, the company's major customer, were released only in mid-September, it was possible to spruce up the bottomline through measures such as cost control, improved productivity and higher realisation.

While the positive impact of the Indian Railways order will be felt on the company's bottomline in the second half, the hydro mechanical and process equipment divisions are expected to turn in good results. The order book position stands at Rs. 1,400 crore, the release said.

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