(Repeats to attach to alert)
MUMBAI, Sept 10 (Reuters) - Power equipment maker Emco Ltd
<EMCO.BO> expects to clock lower revenue growth than forecast in
2008/09, as anticipated order inflows from a major client did not
come through in the first quarter, a top official told Reuters.
Revenue growth for the year is seen at 35 percent, down from
the 50 percent growth that the company forecast in April,
Chairman Rajesh Jain told Reuters late on Tuesday.
"We were expecting some orders on the transmission line which
we thought would be coming in the first three months. Those
orders have not yet come in. We had factored in certain revenues
coming from there," Jain said in an interview.
This has hurt some of Emco's plans and will lead to lower
revenue in the fourth quarter, he added. Emco follows an April to
March accounting year.
However, operating profit margin would be at 13.5 percent, in
line with the April forecast, he said.
Emco, whose traditional business is making transformers,
switchgears and setting up sub-stations for power projects, is
now getting into power generation through its wholly-owned unit,
Emco Energy, he added.
It will also shortly commence mining and selling coal from a
mine in Indonesia, in which it recently picked up a stake, said
Jain.
(Reporting by Janaki Krishnan; Editing by Ramya Venugopal)
(([email protected], +91-22 66369138; Reuters
Messaging: [email protected]))
Keywords: EMCO/OUTLOOK