Arcotech, the copper and brass foil manufacturer, said Tuesday the company has bagged an order from India Government Mint (IGM), Mumbai worth Rs 1.57 billion. The company will supply of 3,000 MT nickel brass coils. The company said the order has potential to reach size of Rs 1.96 billion.
Recently Arcotech reported an increase in standalone net profit for the quarter ended March 2014. During the quarter, the profit of the company rose 25.44% to Rs 10,154.40 million from Rs 8,095.20 million in the same quarter last year. Net sales for the quarter declined 97.90% to Rs 2,271.80 million, compared with Rs 108,326.80 million for the prior year period.
