Gujarat NRE net up 3.63 times for Dec`07 qtr (Q3)

Gujarat NRE Coke registered a 3.63 times growth in net profit to Rs 499.70 million for the quarter ended Dec. 31, 2007, as compared to Rs 137.70 million in the corresponding quarter, last fiscal.

Net sales stood at Rs 2,428.00 million in the quarter ended Dec. 31, 2007, as against Rs 1,746.40 million in the same period last year, recording a growth of 39.03%.

Quarterly results (Rs in mn)
As at	December 2007(3)	December 2006(3)	%Change
Net Sales	2,428	1,746.40	39.03
Net Profit	499.70	137.70	262.89
EPS	1.45	-	-

Total income reported an increase of 41.07% to Rs 2,525.70 million for the quarter ended Dec. 31, 2007, as compared with Rs 1,790.40 million for the same period, last year.

The diluted earning per share (EPS), after extra ordinary items, stood at Rs 1.45 for the quarter ended Dec. 31, 2007.

Gujarat NRE Coke is engaged in manufacturing low ash metallurgical coke and steel. It manufactures low ash metallurgical coke (LAMC) and has wind mills (27.5 MW), and a mini steel mill manufacturing TMT bars from recycled steel scraps.

Shares of the company gained Rs 0.45, or 0.33%, to settle at Rs 138.65. The total volume of shares traded was 1,482,438 at the BSE. (Friday)