Anant Raj Industries Ltd net profit up 267.39% to Rs.735.41 Million

Anant Raj Industries Ltd has announced the Un-Audited financial results for the quarter ended June 30, 2007.

The Company has posted a profit after tax of Rs.735.41 million for the quarter ended June 30, 2007 as compared to Rs.200.17 million for the quarter ended June 30, 2006. Total Income has increased from Rs.389.79 million for the quarter ended June 30, 2006 to Rs.1067.22 million for the quarter ended June 30, 2007.

The company has reported an Earnings Per Share (EPS) of Rs.19.33 in Quarter ending June 30, 2007 compared to Rs.8.27 during Quarter ending June 30, 2006.

The Board of Directors at its meeting held on May 25, 2007 has allotted of 55,60,222 Shares at Rs 1229.51/- Per share to Foreign institutional investor’s (namely Government of Singapore Investment Corporation Pte Ltd, Morgan Stanley Dean Witter Mauritius Company Ltd and Quantum(M)Ltd), in accordance with SEBI guidelines on issue of shares on preferential basis as contained in chapter XIII of SEBI (Disclosure & Investor Protection) Guidelines, 2000.

The allottees of 15,04,000 shares warrants have exercised the option to convert the share warrants into equity shares, and accordingly the Board of Directors of the Company at the meeting held on July 03, 2007, has approved, the conversion of 15,04,000 share warrants, issued on preferential basis, into equivalent number of equity shares. The equity shares so issued shall rank paripassu with the existing shares of the company.

The stock closed the day at Rs.1334, up by Rs.12.85 or 0.97%. The total traded quantity was 3455 compared to 2 week average of 4067. The stock hit an intraday high of Rs.1356.70 and low of Rs.1285.

Source : Equity Bulls

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