S.Kumars Nationwide Ltd Q1 net up 91.09% at Rs.6.65 Crores

S.Kumars Nationwide Ltd has announced the UnAudited Financial Results for the quarter ended June 30, 2007.

The Company has posted a profit after taxes of Rs.426.6 million for the quarter ended June 30, 2007 where as the same was at Rs.250.2 million for the quarter ended June 30, 2006. Total Income is Rs.3793.6 million for the quarter ended June 30, 2007 where as the same was at Rs.2665 million for the quarter ended June 30, 2006.

The company reported an Earnings Per Share (EPS) of Rs.2.16 for Quarter ended June 30, 2007 compared to Rs.1.62 reported during Q1 2006-2007. In the current quarter, Foreign Currency Convertible Bonds (FCCBs) of US $ 11.00 millions were converted into 8672631 number of Equity Shares. Balance FCCBs to be converted is now US $ 20 millions.

During the quarter the company has Allotted 6625000 Equity Share Warrants of Rs 330/- each "Series A", amounting to Rs 2186.250 million carrying an entitlement to subscribe to 4 Equity Shares of Rs 10/- each at a price of Rs 82.50 per Equity Share (including a premium of Rs 72.50 per equity share) to Mauritius Debt Management Ltd, Mauritius. The Company has received the 10% of the issue amounting to Rs 218.625 million.

The Company has allotted 5300000 Equity Share Warrants "Series B" of Rs 10 each at a price of Rs 82.50 each (including a premium of Rs 72.50 per equity share), amounting to Rs 437.250 million to Promoters Group Companies. The Company has received 10% amounting to Rs 43.725 million.

The stock was trading at Rs.103.20, down by Rs.1.60 or 1.53%. The stock hit an intraday high of Rs.107 and low of Rs.102.90. The total traded quantity was 322034 compared to 2 week average of 391138.

Source : Equity Bulls

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