FCI OEN Connectors Reports Robust Growth in Q1, Turnover at Rs.50 Crores & Net Profit at Rs.5.5 Crores

FCI OEN Connectors has reported robust growth in the first quarter of 2007. Sales turnover grew by 28% to Rs.50 crores, from Rs.39 crores in the corresponding quarter of 2006. Turnover for the previous year was Rs.183 crores.

Other income grew by 100% to Rs.6 crores from Rs.3 crores in the corresponding previous quarter. PBT increased by 10% to Rs.8 crores. Net Profit went up by 10% to Rs.5.5 crores. EPS grew from Rs.7.91 to Rs.8.71. EPS for the previous financial year ended 31 December 2006 was rs.31.17.

Shareholders had earlier approved the sale of automotive connector division with effect from 1 January, 2007. The operating results of the automotive connectors is therefore not included in the Q1 results.

The stock closed on Monday at Rs.321.85, down by Rs.22.75 or 6.60%. The total traded quantity was 1492 at an average price of Rs.324.36 resulting in a turnover of Rs.4.84 Lakhs. The stock hit an intraday high of Rs.349.90 and low of Rs.320.

Source : Equity Bulls

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