Electronics manufacturing and telecom products marketing company Optiemus Infracom has posted a 39.6% increase in consolidated profit after tax to Rs 24.22 crore in the fourth quarter ended on March 31, 2024, driven by growth in its manufacturing business. The company had posted a profit of Rs 17.24 crore in the same period a year ago.
The profit before tax, finance cost and other expenses in the manufacturing business of Optiemus more than doubled to Rs 18.96 crore during the reported quarter from Rs 7.95 crore a year ago.
The total revenue of Optiemus Infracom increased by about 34% to Rs 501.68 crore during the reported quarter from Rs 374.6 crore in the March 2023 quarter.
For the year ended March 31, 2024, Optiemus posted about a 36% increase in profit to Rs 56.8 crore from Rs 41.87 crore in the year-ago period.
The annual revenue of Optiemus increased by about 26% to Rs 1,546.15 crore during the reported financial year 2024 from Rs 1227.93 crore in FY'23.
The company is in the process of setting up a joint venture, BigTech, with protective screen company Corning at Kancheepuram in Tamil Nadu.
"The plant can produce 3 million screen protectors monthly for all displays," Optiemus said.
The company is also in the process of launching Optiemus Unmanned Systems (currently a division of OIL) as a wholly owned subsidiary and its products are in development stage and under field trials, Optiemus said.
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