Zuari Industries Ltd Q1 net profit at Rs.2.66 Crores

Zuari Industries 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.26.6 million for the quarter ended June 30, 2007 where as the same was at Rs.3493.3 million for the quarter ended June 30, 2006. Total Income is Rs.4125.2 million for the quarter ended June 30, 2007 where as the same was at Rs.5224.1 million for the quarter ended June 30, 2006.

The company has reported an Earnings Per Share (EPS) of Rs.0.9 for the quarter ended June 30, 2007 compared to Rs.118.66 during quarter ended June 30, 2006.

The decrease in Net Sales for the quarter is on account of lower sales volume of traded products and also due to decrease in subsidy caused by rupee appreciation.

Pending announcement of rates of concession for complex fertilisers for the quarter ended June 30, 2007 the Company has accounted for the same at estimated concession rates based on known policy parameters.

Subsidy for Urea for the quarter ended June 30, 2007 has been accounted based on Stage III parameters of the New pricing Scheme and other adjustments as estimated in accordance with known policy parameters in this regard.

The stock closed the day at Rs.221.90, down by Rs.7.60 or 3.31%. The total traded quantity was 49879 compared to 2 week average of 165662. The stock hit an intraday high of Rs.231 and low of Rs.218.50.

Source : Equity Bulls

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