Grindwell Norton Ltd Quarterly net profit at Rs.12.5 Crores

Grindwell Norton Ltd has announced the following Un-Audited results for the quarter ended June 30, 2007.

The Company has posted a net profit after tax of Rs.125 million for the quarter ended June 30, 2007 where as the same was at Rs.125 million for the quarter ended June 30, 2006. Total Income is Rs.1102 million for the quarter ended June 30, 2007 where as the same was at Rs.963 million for the quarter ended June 30, 2006.

The company has reported an Earnings Per Share (EPS) of Rs.2.26 for the quarter ended June 30, 2007 compared to Rs.2.26 during quarter ended June 30, 2006.

The Company has entered into a Non-Binding Agreement to dispose of its entire shareholding in Lincoln Helios India Ltd.

The Company has formed a Joint Venture Company in Bhutan in partnership with the Singye Group of Bhutan to Manufacture Sillicon Carbide.

The stock closed the day at Rs.143.15, up by Rs.0.15 or 0.10%. The total traded quantity was 20278 compared to 2 week average of 56701. The stock hit an intraday high of Rs.145.50 and low of Rs.143.

Source : Equity Bulls

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