In a major turnaround, Electronics Corporation of India's turnover increased by 48 per cent at Rs 1,005 crore (Rs 10.05 billion) during 2002-03 and the company plans to touch Rs 1,250 crore (Rs 12.5 billion) mark during the next fiscal.
Profit before tax of ECIL was up by 90 per cent as it rose from Rs 79 crore (Rs 790 milion) to Rs 150 crore (Rs 1.5 billion) this fiscal, ECIL CMD V H Ron told reporters while announcing the financial results at a press conference in Hyderabad on Wednesday.
Focussing on customer-centric goods and services besides redrafting priorities enabled ECIL, which was in the red in 1998-99, to record the turnaround, he said.
Export of Electronic Voting Machines to other countries, besides providing Integrated Security Systems for major establishments, including Parliament building in Delhi and atomic power stations, forays into telecom and civil aviation would be the major source of income during 2003-04, he said.
Among the major projects taken up during the year include manufacture of EVMs (Electronic Voting Machines), e-governance projects including hospital management, Wireless in Local Loop for rural applications, he said.
Supervisory Control and Developmental Advisory for Mumbai-Manmad pipeline besides a few projects for Doordarshan and All India Radio were the other projects taken up by ECIL, he said.