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Ennore Foundries’ revenue up 27 p.c.

Corporate Reporter

CHENNAI: Foundry arm of Hinduja Group, Ennore Foundries, has posted a net profit Rs. 4.09 crore in the first three months ended June 30, 2007, against Rs.1.68 crore in the year-ago period.

Sales revenue has increased by 27 per cent to Rs. 104.54 crore from Rs. 82.41 crore (and not as stated earlier).

In the year ended March 31, 2007, net sales and income from operations stood at Rs. 395.24 crore and the profit after tax at Rs. 16.16 crore.

The expansion project at the greenfield site at Sriperumbudur near Chennai is nearing completion and commercial production is expected to commence during September, the company said in a release.

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