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Stock Report
Sesa Goa Ltd Quarterly net profit down at Rs.1188.63 Million
Posted On : 2007-07-23 04:52:26( TIMEZONE : IST )
Sesa Goa Ltd has announced the UnAudited Financial Results for the quarter ended June 30, 2007.
The Company has posted a profit after taxes of Rs.1188.63 million for the quarter ended June 30, 2007 where as the same was at Rs.1334.78 million for the quarter ended June 30, 2006. Total Income is Rs.4643.18 million for the quarter ended June 30, 2007 where as the same was at Rs.4399.2 million for the quarter ended June 30, 2006.
The company reported an Earnings Per Share (EPS) of Rs.30.2 for Quarter ended June 30, 2007 compared to Rs.33.91 reported during Quarter ended June 30, 2006.
The Company has filed a petition before the High Court of Bombay, Panjim Bench, Goa for merger of its subsidiary Company Sesa Industries Ltd (SIL) with the Company with effect from April 01, 2005 subsequent to the shareholders´ consent obtained at the meeting convened on May 08, 2006 under the direction of the High Court. Pending receipt of requisite approval the above results have been compiled on a stand alone basis without considering merger of SIL. The interim and final dividend totalling to Rs 40 and Rs 40 per share for the years ended March 31, 2006 and March 31, 2007 respectively paid / payable to the existing shareholders of the Company would also be payable to the recipients of the Company shares on approval of the merger of SIL with the Company out of the appropriable profits of the merged Company for the relevant years. The position of reserves as stated above is before considering the appropriations for dividend on the shares to be issued on merger.
The decrease in profit for the current period is primarily due to the incidence of export duty and the appreciation of the rupee vis-a-vis the US Dollar partly offset by the increase in prices.
The stock closed the day at Rs.1857.40, down by Rs.36.45 or 1.92%. The stock hit an intraday high of Rs.1894 and low of Rs.1825.15. The total traded quantity was 30237 compared to 2 week average of 39179.
