Moneycontrol Bureau
Office automation company Ricoh India has reported massive 3-fold jump in its fourth quarter net profit at Rs 41.5 crore against Rs 14.2 crore in the year-ago period. Strong operational performance in services segment and higher other income boosted profitability.
Total income grew by 77 percent to Rs 628 crore in the quarter ended March 2015 from Rs 354.5 crore in the corresponding quarter of last fiscal.
Other income jumped 25.7 times year-on-year to Rs 12.84 crore while finance cost increased by 3.2 times to Rs 31.48 crore in the quarter gone by.
Goods segment’s earnings before interest and tax (EBIT) halved to Rs 14.05 crore from Rs 28.87 crore while EBIT of its services business shot up 38.7 times to Rs 62.28 crore from Rs 1.61 crore during the same period.
At 13:18 hours IST, the scrip of Ricoh India was quoting at Rs 881, up Rs 37, or 4.38 percent after hitting a 52-week high of Rs 911 on the Bombay Stock Exchange.
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