India Globalization (IGC) Reports 100% Increase in FY2008 Revenues
India Globalization Capital, Inc. (IGC:AMEX) is a US-based company developing infrastructure in India through its majority-owned subsidiaries, Sricon Infrastructure Private Ltd. and Techni Bharathi Ltd. On March 7, 2008 the company acquired 63% of Sricon Infrastructure and 77% of Techni Bharathi. The company, through its subsidiaries, has three core businesses: 1) highway and other heavy construction, 2) mining and quarrying, and 3) civil construction and engineering of high-temperature plants. Recently, India Globalization announced a good set of results for the fiscal year ending March 31, 2008. The two subsidiaries combined reported revenues of $32.9 million and earnings of $4.4 million.…