Opto Circuits posts 99% growth in profits for Q3 -
Nine-months

Bangalore, 29th January 2008 : The Board of Directors of Opto Circuits (India) Ltd. (OCI), India’s leading manufacturer of medical diagnostics and interventional products, today approved and adopted the company’s Unaudited Financial Results for the third quarter and first nine months ended December 31, 2007. For the nine month period ended December 31st 2007, OCI posted consolidated sales of Rs. 347.60 crore as against Rs. 167.37 crore of the corresponding previous quarter and a Net Profit of Rs.97.63 crore as against 49.02 crore for the same period in the previous year with an increase of 108 per cent in sales and 99 per cent on profits.

On a consolidated basis, the company has seen a 103 per cent growth and has reported sales of Rs. 127.32 crore, for the third quarter ended 31st December 2007 as compared to Rs. 62.80 crore for the corresponding period last year. The Net Profit for the quarter stood at Rs. 35.74 crore, as against Rs. 20.01 crore for the same period in the previous year, a 79 per cent rise.

Speaking after the announcement of results, Vinod Ramnani, Chairman & Managing Director, said that we are looking at new markets for exploring the possibility of increasing the market share. We are confident of making a significant imprint in the global market through in-organic growth and wider market spread..

In the last quarter, the company has received the Section 510K US FDA approval on two of its new generation range of Pulse Oximeters viz., M30 and M34 which has the largest market in United States. The Company has obtained accreditation of ISO 14001:2004 for Environmental Management System and also OHSAS 18001:2007 for occupational Health and Safety Management System.