Power Finance Q1 net doubles to Rs.308.64 Crores, Stock up 13%

Power Finance Corporation Ltd has announced the unaudited financial results for the quarter ended June 30, 2007.

The Company has posted a net profit of Rs 3086.45 million for the quarter ended June 30, 2007 as compared to Rs 1519.03 million for the quarter ended June 30, 2006. Total Income has increased from Rs 8451.38 million for the quarter ended June 30, 2006 to Rs 11458.08 million for the quarter ended June 30, 2007.

The figures for the quarter ended June 30, 2006 are Audited.

The company has reported an Earnings Per Share (EPS) of Rs.2.69 for quarter ending June 30, 2007. The profit was down 19.32% in comparison with Quarter ending March 31, 2007. The Net Profit for quarter endign March 31, 2007 was at Rs.368.29 Crores.

The stock closed the day at Rs.198, up by Rs.22.80 or 13.01%. The stock hit an intraday high of Rs.199.35 and low of Rs.177. The total traded quantity was 5409159 compared to 2 week average of 1435291.

Source : Equity Bulls

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