Ortel Communications becomes profitable during 2014-15

Mumbai, April 20: Bhubaneswar-based communications company Ortel Communication, which concluded an Initial Public Offering (IPO) during January-March 2015, on Monday said its net profit for the 2014-15 fiscal stood at Rs.5.6 crore against a loss of Rs.13.8 crore incurred during the previous fiscal. In a regulatory filing with the tiol Stock Exchange, the company said its net revenue for the time period under review increased by 21.5 percent at Rs.161.1 crore against a net revenue of Rs.132.6 crore during 2013-14. “Our EBITDA (earnings before interest, taxes, depreciation and amortization) margins stood strong at 37 percent during 2014-15 as compared to 31 percent during 2013-14,” the company’s president and CEO Bibhu Prasad Rath said in a statement.  (IANS)