Business Daily from THE HINDU group of publications
Tuesday, Jul 24, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jul 24, 2007 ePaper |
|
|
|
|
|
|
|
Corporate Results
-
Bearings, Castings & Forgings Markets - Stocks
Our Bureau Kolkata, July 23 Electrosteel Castings Ltd, for the quarter ended June 30, 2007, has recorded a 57 per cent increase in profit after tax to Rs 29.82 crore (Rs 18.94 crore). Total income jumped to Rs 320.83 crore (Rs 260.61 crore), with PBT touching Rs 41.72 crore (Rs 29.54 crore), a growth of 41 per cent. According to an official statement issued by the company here today, besides taking the first quarter results on record, the board has also approved the proposal to split equity shares having a face value of Rs 10 each into 10 equity shares of Re 1 each. During the quarter under review, the company has divested its entire stake in its two wholly owned subsidiaries engaged in the non-core business of pipes. Accordingly, Elcast Finance Ltd and Escal Finance Services have ceased to be subsidiaries of the company. The company, as on March 31, 2007, has recorded a total income of Rs 1184.34 crore. The basic EPS as on March 31, 2007 was at Rs 51.13. The company, in a bid to offset the rise in cost of iron ore, a major input in the manufacture of DI Pipes, is setting up a sintering plant to use the ore fines instead of the costly lump ore. Electrosteel has also been allocated Parbatpur coal block in the Jharia field for mining of coal for captive consumption. The Electrosteel stock on Monday recorded a 52-week high of Rs 472 on the BSE, before closing at Rs 455.65.
More Stories on : Bearings | tings & Forgings | Stocks
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|