Ennore Foundries Ltd reports Quarterly net profit of Rs.40.91 Million

Ennore Foundries Ltd has announced the unaudited financial results for the quarter ended June 30, 2007.

The Company has posted a net profit of Rs.40.91 million for the quarter ended June 30, 2007 as compared to net profit of Rs.16.81 million for the quarter ended June 30, 2006. Total Income has increased from Rs.826.72 million for the quarter ended June 30, 2006 to Rs.1048.99 million for the quarter ended June 30, 2007.

The expansion project at the Greenfield site at Sriperumbudur near Chennai is nearing completion and commercial production is expected to commence during the 2nd quarter of FY 2007-08 as planned.

The company has reported an Earnings Per Share (EPS) of Rs.2.24 for the Quarter ending June 30, 2007 compared to Rs.0.77 for Quarter ending June 30, 2006.

The stock closed the day at Rs.192, up by Rs.0.85 or 0.44%. The stock hit an intraday high of Rs.195 and low of Rs.192. The total traded quantity was 2519 compared to 2 week average of 4608.

Source : Equity Bulls

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