Finolex Cables reports lower Q4 net profit of Rs.8.83 crores

Finolex Cables Ltd has announced the following Audited results for the quarter & year ended March 31, 2007. The results for the Quarter ended March 31, 2007: The Company has posted a net profit of Rs 88.30 million for the quarter ended March 31, 2007 where as the same was at Rs 210.20 million for the quarter ended March 31, 2006. Total Income (net of excise) is Rs 2958.20 million for the quarter ended March 31, 2007 where as the same was at Rs 2312.20 million for the quarter ended March 31, 2006.

The results for the Year ended March 31, 2007: The Company has posted a net profit of Rs 689.90 million for the year ended March 31, 2007 where as the same was at Rs 503.70 million for the year ended March 31, 2006. Total Income (net of excise) is Rs 10526.20 million for the year ended March 31, 2007 where as the same was at Rs 7761.60 million for the year ended March 31, 2006.

The sales figure for the quarter ended March 31, 2007 is not comparable with the quarter ended March 31, 2006, since there is no billing of JFTC to BSNL/MTNL during this quarter in absence of a tender. During the fourth quarter of the previous year JFTC billing to BSNL/MTNL was Rs 226.30 million.

The stock closed the day at Rs.94.55, up by Rs.1.30 or 1.39%. The stock hit an intraday high of Rs.97.50 and low of Rs.94. The total traded quantity was 33012 compared to 2 week average of 36884.

Source : Equity Bulls

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