Gemini Communication Ltd Q1 net vaults to Rs.6.19 Crores

Gemini Communication Ltd has announced the UnAudited Financial Results for the quarter ended June 30, 2007.

The Company has posted a profit after taxes of Rs.54.14 million for the quarter ended June 30, 2007 where as the same was at Rs.30.11 million for the quarter ended June 30, 2006. Total Income is Rs.497.39 million for the quarter ended June 30, 2007 where as the same was at Rs.352.26 million for the quarter ended June 30, 2006.

The company reported an Earnings Per Share (EPS) of Rs.5.6 for Quarter ended June 30, 2007 compared to Rs.6.87 reported during Q1 2006-2007. During the quarter the Company has allotted 9,00,000 equity shares on conversion equity warrants to the promoter and individuals.

Proceeds of funds received on allotment has been used for Research and Development activities on technologies like RFID, Radio Modems, etc., Further it was also used for executing prestigious projects which the company has undertaken.

Merrill Lynch International has entered into an agreement with the company to subscribe 6% Unsecured 5 Year Foreign Currency Convertible Bonds of Euro 1,00,000/- each totaling to Euros 15,000,000. The FCCBs would be convertible into Equity Shares at a Conversion Price of Rs 513.08 or 256.5 post bonus.

Company would be bringing in new products on RFID and Radio Modems within fore coming nine months.

The stock was trading at Rs.219.50, down by Rs.0.70 or 0.32%. The stock hit an intraday high of Rs.228 and low of Rs.214.10. The total traded quantity was 147003 compared to 2 week average of 99712.

Source : Equity Bulls

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