Gabriel India Ltd Quarterly Net down 13% to Rs.19.4 Million

Gabriel India Ltd has announced the UnAudited Financial Results for the quarter ended June 30, 2007.

The Company has posted Net Profit of Rs.19.4 million for the quarter ended June 30, 2007 where as the same was at Rs.22.3 million for the quarter ended June 30, 2006. Total Income is Rs.1139.4 million for the quarter ended June 30, 2007 where as the same was at Rs.1419.3 million for the quarter ended June 30, 2006.

The company reported an Earnings Per Share (EPS) of Rs.0.27 for Quarter ended June 30, 2007 compared to Rs.0.31 reported during Quarter ended June 30, 2006.

The company has in the current quarter w.e.f. June 24, 2007 closed its manufacturing facility at Noida, Uttar Pradesh. Staff Costs include Rs 7.90 million towards compensation for the employees of the unit.

These results do not include the results of the erstwhile Engine Bearing Division which was demerged in Anand Engine Components Ltd w.e.f. April 01, 2006 in accordance with order dated March 29, 2007 of Hon´ble High Court of Bombay.

The stock closed the day at Rs.28.15. The stock hit an intraday high of Rs.29.60 and low of Rs.28. The total traded quantity was 134418 compared to 2 week average of 94352.

Source : Equity Bulls

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