Hindustan Zinc Q1 profit up at Rs.1185 Crores

Hindustan Zinc Ltd has announced the unaudited financial results for the quarter ended June 30, 2007.

The Company has posted a net profit of Rs 11850 million for the quarter ended June 30, 2007 as compared to Rs 8740 million for the quarter ended June 30, 2006. Total Income has increased from Rs 16590 million for the quarter ended June 30, 2006 to Rs 22400 million for the quarter ended June 30, 2007.

The company has reported an Earnings Per Share (EPS) of Rs.28.05 for the quarter ended June 30, 2007 compared to Rs.20.68 during quarter ended June 30, 2006.

Investment in equity shares of a power company has been considered as an intangible asset. This has resulted in an additional amortisation charge of Rs 11.70 million for the quarter ended June 30, 2007 (corresponding prior quarter: Rs 11.70 million).

The stock closed the day at Rs.771.50, down by Rs.10.85 or 1.39%. The total traded quantity was 73003 compared to 2 week average of 137632. The stock hit an intraday high of Rs.793.90 and low of Rs.768.20.

Source : Equity Bulls

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