Diamond Cables Ltd Q1 net at Rs.9.32 Crores

Diamond Cables Ltd has announced the UnAudited Financial Results for the quarter ended June 30, 2007.

The Company has posted profit after taxes of Rs.93.28 million for the quarter ended June 30, 2007 where as the same was at Rs.47.51 million for the quarter ended June 30, 2006. Total Income is Rs.839.15 million for the quarter ended June 30, 2007 where as the same was at Rs.514.8 million for the quarter ended June 30, 2006.

The company reported Earnings Per Share (EPS) of Rs.6.00 for quarter ending June 30, 2007 compared to Rs.3.51 during same quarter last year. The company actually made a loss in quarter ending June 30, 2006 if provision of Rs.90 Million for extraordinary items are provided.

The Company has Just acquired a Strategic Stake in Apex Group Companies. The Companys present operations do not reflect any activities in Apex and impact of that would be seen from Third Quarter.

The Company’s Turnkey and Power Infrastructure Group are at start of stage and are expected to show Substantial revenues from Second Quarter.

The stock closed the day at Rs.259.25, down by Rs.10.90 or 4.03%. The stock hit an intraday high of Rs.283.55 and low of Rs.256.65. The total traded quantity was 77701 compared to 2 week average of 105401.

Source : Equity Bulls

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