Global Vectra Helicorp Ltd Quarterly net profit soars to Rs.10.81 Crores

Global Vectra Helicorp 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.108.13 million for the quarter ended June 30, 2007 where as the same was at Rs.28.57 million for the quarter ended March 31, 2007. Total Income is Rs.566.09 million for the quarter ended June 30, 2007 where as the same was at Rs.442.57 million for the quarter ended March 31, 2007.

The company has reported an Earnings Per Share (EPS) of Rs.7.72 for the quarter ended June 30, 2007 compared to Rs.2.04 during quarter ended March 31, 2007.

During the period October 2006 - June 2007, a customer has retained Rs 178.787 million (As at March 03, 2007 Rs 167.047 million) as liquidated damages pertaining to delay in implementing Aviation Standard 4. This matter has been discussed with the customer as it impacts the overall industry. Meanwhile Director General of Civil Aviation ("DGCA") has also expressed its views directly to the customer. Management believes this amount retained by the customer will be recovered by the Company.

The stock closed the day at Rs.209.55, down by Rs.0.75 or 0.36%. The total traded quantity was 25327 compared to 2 week average of 58624. The stock hit an intraday high of Rs.212 and low of Rs.205.

Source : Equity Bulls

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