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Opto Circuits (India) Limited Financial Results - Q3FY20


Opto Circuits (India) Limited Financial Results - Q3FY20

Revenues at Rs 53.98 crore EBITDA Margin at 15.0%; PAT at Rs 6.36 crore

Mumbai, February 14, 2020: Opto Circuits (India) Ltd., a leading global medical devices and technology group with a diversified product portfolio, has declared its financial results for the quarter ended December 2019.

Financial Highlights – Q3FY20 (Consolidated)

• Total revenue from operations was at Rs 53.98 crore

• EBITDA was at Rs 8.10 crore. EBITDA Margin stood at 15.0% • Depreciation declined to Rs 0.85 crore from Rs 2.57 crore in Q3FY19

• Interest cost declined significantly to Rs 1.62 crore as compared to Rs 5.81 crore in Q3FY19 • Profit after tax was at Rs 6.36 crore. PAT Margin stood at 11.8%

Management Comment:

Commenting on the results, Mr. Vinod Ramnani, Chairman, said, “We have witnessed some moderation in the demand across overall medical devices market which impacted our revenues during the quarter. However, we have been able to reduce our interest costs substantially on account of debt repayments. Our profitability has been improving every quarter sequentially led by demand uptake of high margin products and reduction in debt”

He added that, “We are confident about the demand increase in medical devices market in the coming quarters. Our operating margins are also expected to expand, led by our cost optimisation measures across the product segments. So overall, we are very confident on the business turnaround led by the upcoming up-coming favourable period in terms of demand and cost efficiency measures”

About the Company:

Opto circuits is a multinational medical device company headquartered out of Bengaluru, India. They design, develop, manufacture, market and distribute a range of medical products that are used by healthcare establishments in more than 150 countries. They specialize in vital signs monitoring, emergency cardiac care, vascular treatments and sensing technologies.

The company is a vertically integrated medical technology Group that specializes in primary, acute and critical care products for the global markets. Group companies such as Cardiac Science, Criticare, Eurocor, Mediaid, AMDL and Unetixs Vascular are leaders in cardiac and vital signs monitors, emergency cardiac care equipment, vascular treatments and sensing technologies. Our USFDA listed and CE marked products are marketed in more than 150 countries and sold through direct and indirect sales channels across many emerging and developing economies.

For more details, please visit: www.optocircuits.com PWR

PWR

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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