Allsec Technologies Ltd Quarterly Profit falls to Rs.4.57 Crores

Allsec Technologies Ltd has announced the UnAudited Financial Results for the quarter ended June 30, 2007.

The Company has posted Net Profit of Rs.45.74 million for the quarter ended June 30, 2007 where as the same was at Rs.67.78 million for the quarter ended June 30, 2006. Total Income is Rs.269.95 million for the quarter ended June 30, 2007 where as the same was at Rs.287.58 million for the quarter ended June 30, 2006.

The company reported an Earnings Per Share (EPS) of Rs.3 for Quarter ended June 30, 2007 compared to Rs.5.61 reported during Quarter ended June 30, 2006.

During the quarter the Company has invested US $ 8 million in Allsectech Inc (a wholly owned subsidiary).

During the current quarter the Company has recognised service tax credit aggregating to Rs 5.04 million relating to an earlier years.

During the previous year the company has made preferential issue of securities amounting to Rs 810.712 million. The proceeds from the issue after adjusting issue expenses has been utilised for making investments and development of additional facilities Unutilised amount has been deployed in mutual funds / banks.

A petition for the approval of the Scheme of Amalgamation of B2K Corp Pvt Ltd (a wholly owned subsidiary) with the company is pending with the Hon´ble High Court of Judicature at Madras. Pending completion of the court process relating to such amalgamation, no effect has been given for the same in these financial results for changes if any that may be required.

The stock closed the day at Rs.211.30, down by Rs.12.50 or 5.59%. The stock hit an intraday high of Rs.221 and low of Rs.211.25. The total traded quantity was 2011 compared to 2 week average of 5199.

Source : Equity Bulls

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