Datta in Calcutta on Thursday. A Telegraph picture

Calcutta, Aug. 14: Andrew Yule, the ailing public sector company, has turned around after seven years.

The company has posted a profit of Rs 8.61 crore during the last financial year following the implementation of a BIFR package.

“We are on a revival path. While financial restructuring helped us to turn the tide, operationally we did well, too,” Kallol Datta, chairman and managing director of Andrew Yule, said.

The Andrew Yule group achieved a turnover of Rs 1,353 crore and a profit before tax of Rs 91 crore.

As part of restructuring, the company will divest stakes in three associate companies. It has already sought expressions of interest (EoIs) for DPSC Ltd, a power generation company.

Datta said 15 firms had picked up bid papers and they included all the big names in power. Real estate leader DLF and an Italian company have shown interest in DPSC. The last date for submitting EoIs is September 9.

“I am hoping the sale process will be completed by this fiscal,” Datta said.

The company also expects to divest its stake in Phoenix Yule soon.