Micro Inks Q2 net profit zooms to Rs.13.71 Crores

Micro Inks Ltd has announced the unaudited financial Results for the quarter ended June 30, 2007.

The Company has posted a net profit of Rs 137.10 million for the quarter ended June 30, 2007 where as the same was net loss at Rs 137.40 million for the quarter ended June 30, 2006. Total Income (net of excise) is Rs 2549.10 million for the quarter ended June 30, 2007 where as the same was at Rs 2344.50 million for the quarter ended June 30, 2006.

The Consolidated Results are as follows: The Group has posted a net profit of Rs 103.20 million for the quarter ended June 30, 2007 where as the same was net loss at Rs 126.00 million for the quarter ended June 30, 2006. Net Sales & Other operating income is Rs 3277.50 million for the quarter ended June 30, 2007 where as the same was at Rs 2727.30 million for the quarter ended June 30, 2006.

The Company has undertaken on early adoption of Accounting standard - 15 (revised 2005) "Employee Benefits", with effect from April 01, 2006, therefore previous period figures are not comparable to that extent.

The company has reported an Earnings Per Share (EPS) of Rs.5.51 for the Quarter ending June 30, 2007 compared to -5.53 for Quarter ending June 30, 2006.

During the quarter, the Company has invested an amount of Rs 1.43 million equivalent to SGD 0.05 million in Micro Inks (Singapore) Pte Ltd., a wholly owned subsidiary company.

During the quarter, the Company has commercially commissioned a plant for manufacture of intermediates, for captive use in manufacture of offset Printing Inks at 100% Export Oriented Unit, Vapi.

The stock closed the day at Rs.463.50, up by Rs.16.80 or 3.76%. The stock hit an intraday high of Rs.468 and low of Rs.447. The total traded quantity was 3437 compared to 2 week average of 24389.

Source : Equity Bulls

Keywords