Asian CERC Information Technology Ltd Quarterly Profit rises to Rs.7.22 Million

Asian CERC Information Technology Ltd has announced the UnAudited Financial Results for the quarter ended June 30, 2007.

The Company has posted Net Profit of Rs.7.22 million for the quarter ended June 30, 2007 where as the same was at Rs.4.12 million for the quarter ended June 30, 2006. Total Income is Rs.44.81 million for the quarter ended June 30, 2007 where as the same was at Rs.26.12 million for the quarter ended June 30, 2006.

The company reported an Earnings Per Share (EPS) of Rs.0.65 for Quarter ended June 30, 2007 compared to Rs.0.49 reported during Quarter ended June 30, 2006.

Pursuant to the Share Purchase and Subscription Agreement dated August 14, 2006 executed with Fortis Financial Services Ltd. (‘Fortis’), the Promoter entities have sold 23,52,000 equity shares of Rs 5 each to Fortis. The said shares are held in the Escrow account maintained with the merchant banker and the same will be transferred to Fortis upon completion of open offer.

The stock closed the day at Rs.181.75, up by Rs.0.20 or 0.11%. The stock hit an intraday high of Rs.187 and low of Rs.179.55. The total traded quantity was 25965 compared to 2 week average of 22288.

Source : Equity Bulls

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