CMC Q1 net up 47.89%, stock down 11%

CMC Ltd has announced the unaudited financial results for the quarter ended June 30, 2007. The Company has posted a profit after tax of Rs 221.217 million for the quarter ended June 30, 2007 as compared to Rs 149.574 million for the quarter ended June 30, 2006. Total Income has decreased from Rs 2323.502 million for the quarter ended June 30, 2006 to Rs 2168.972 million for the quarter ended June 30, 2007.

The Consolidated results are as follows: The Group has posted a profit after tax of Rs 234.164 million for the quarter ended June 30, 2007 as compared to Rs 161.554 million for the quarter ended June 30, 2006. Total Income has decreased from Rs 2520.526 million for the quarter ended June 30, 2006 to Rs 2407.547 million for the quarter ended June 30, 2007.

The stock closed the day at Rs.1298.90, down by Rs.161.90 or 11.08%. The stock hit an intraday high of Rs.1488.40 and low of Rs.1285. The total traded quantity was 80082 compared to 2 week average of 25169.

Source : Equity Bulls

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