Tuesday, April 29, 2008

Finolex Cables Q4 earnings rise 13.14%

Finolex Cables reported a steady growth in standalone net profit for the quarter ended March 2008. During the quarter, the profit of the company climbed 13.14% to Rs 99.90 million from Rs 88.30 million in the same quarter last year.

The company posted earnings of Rs 0.65 a share during the quarter, registering 8.33% growth over previous year period.

Net sales for the quarter surged 44.83% to Rs 4,232.10 million, while total income for the quarter jumped 43.06% to Rs 4,232.10 million, when compared with the prior year period.

During the quarter the company disclosed a fall in operating margin by 157.23 basis points to 4.88% on higher input cost. On the other hand, there has been increase of 33.51% in interest charge to Rs 49.40 million and decrease of 1.02% in depreciation charge to Rs 68 million over previous year period.

Shares of the company declined Rs 0.6, or 0.87%, to settle at Rs 68.4. The total volume of shares traded was 114,427 at the BSE (Monday).

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