Transafe Services profit up 130 percent

December 2nd, 2008 - 7:19 pm ICT by IANS  

Kolkata, Dec 2 (IANS) Logistics equipment provider Transafe Services Ltd posted a growth of 55 percent in turnover and 130 percent in profit after tax (PAT) in the first six months this fiscal compared to the year-ago period, the company announced here Tuesday.The audited turnover of Transafe in the April-September period this fiscal stood at Rs.516.6 million as against Rs.333.7 million (unaudited) a year earlier.

The company has posted a PAT of Rs.50.1 million for the period, up from the previous corresponding period’s Rs.21.8 million.

Upbeat about the company’s performance, Transafe managing director and chief executive G.K. Mukerjea said: “We will clock a turnover of Rs.1.15 billion and PAT of Rs.140 million during the current fiscal.”

“Our recently commissioned manufacturing unit at Kharagpur in West Bengal is already operational. The other manufacturing unit in Haryana is expected to be commissioned by the end of this month,” he told reporters here.

The Kharagpur plant has a capacity of manufacturing 500 containers per month.

Now the company has a total manufacturing capacity of 1,650 containers per month from its units at Coimbatore, Chennai, Kharagpur and Ranihati.

Mukerjea did not rule out the scope of doubling the capacity, but said it might get “deferred a little bit”.

The company is also planning to set up units in western India and has already shortlisted three to four locations.

“Western states experience heavy cargo movement and we are looking at Maharashtra or Gujarat to set up a 1,000-1,500 containers per month capacity unit by investing Rs.500 million,” the CEO said.

Transafe is a joint venture between Balmer Lawrie and ICICI Venture. Balmer Lawrie has 29 percent stake in the company while the rest is held by ICICI Venture.

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