Neyveli Lignite Q4 net profit at Rs.264 million, recommends 12% dividend

Neyveli Lignite Corporation Ltd has announced the financial results for the quarter & year ended March 31, 2007. The Unaudited results for the Quarter ended March 31, 2007 are as follows: The Company has posted a net profit of Rs 264.00 million for the quarter ended March 31, 2007 as compared to net loss of Rs 658.60 million for the quarter ended March 31, 2006. Total Income has increased from Rs 2245.70 million for the quarter ended March 31, 2006 to Rs 5674.60 million for the quarter ended March 31, 2007.

The Audited results for the Year ended March 31, 2007 are as follows: The Company has posted a net profit of Rs 5667.80 million for the year ended March 31, 2007 as compared to Rs 7023.50 million for the year ended March 31, 2006. Total Income has increased from Rs 27024.30 million for the year ended March 31, 2006 to Rs 27051.90 million for the year ended March 31, 2007.

The Board of Directors of the Company at its meeting held on June 01, 2007, inter alia, has recommended a dividend of 12% subject to approval of shareholders.

The stock closed the day at Rs.65.50, up by Rs.1.15 or 1.79%. The stock hit an intraday high of Rs.66.90 and low of Rs.65.05. The total traded quantity was 235906 compared to 2 week average of 98723.

Source : Equity Bulls

Keywords