Dolphin Offshore Enterprises India Ltd Q1 net down 59% to Rs.24.74 Million

Dolphin Offshore Enterprises India Ltd has announced the UnAudited financial results for the Quarter ending June 30, 2007.

The company has reported total income of Rs.469.67 Million in Q1 2007-2008 compared to Rs.664.87 Million during the same quarter last year (2006-2007). The company reported Net Profit of Rs.24.74 Million during Q1 2007-2008 compared to Rs.60.56 Million during Q1 2006-2007.

The Earnings Per Share (EPS) of the company stood at Rs.2.76 during Q1 2007-2008 compared to Rs.10.82 during Q1 206-2007.

The Company raised US$ 15 million through issue of FCCBs of which there is an unutilised amount of US$ 0.01 million as at June 30, 2007 which is currently Lying in the State Bank of India Singapore Branch. The balance amount of US$ 14.99 million has been spent on the Company’s Capital expansion programme.

The Company has received notice from the FCCB holders on July 12, 2007 stating that they want to convert 20% of the FCCBs into equity shares. Post conversion, the Company’s share capital will stand increased to Rs 95649330.00 No effect has been given to this conversion in these results.

The stock closed the day at Rs.279.40, down by Rs.1.45 or 0.52%. The total traded quantity was 41485 compared to 2 week average of 53391. The stock hit an intraday high of Rs.294.40 and low of Rs.277.50.

Source : Equity Bulls

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