Ponni Sugars Erode Ltd falls into Red, reports net loss of Rs.24 Million

Ponni Sugars Erode Ltd has announced the unaudited financial results for the quarter ended June 30, 2007.

The Company has posted a net loss of Rs.24 million for the quarter ended June 30, 2007 as compared to net profit of Rs.24 million for the quarter ended June 30, 2006. Total Income has increased from Rs.323.1 million for the quarter ended June 30, 2006 to Rs.332.8 million for the quarter ended June 30, 2007.

Steep fall in sugar price has severely dented margin. Such adverse trend continues.

The company has reported an Earnings Per Share (EPS) of -2.93 for the Quarter ending June 30, 2007 compared to Rs.2.93 for Quarter ending June 30, 2006.

The stock closed the day at Rs.40.75, down by Rs.1 or 2.40%. The stock hit an intraday high of Rs.42 and low of Rs.40.50. The total traded quantity was 1701 compared to 2 week average of 2738.

Source : Equity Bulls

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