Strong Q1 Figures Take Finolex Cables To New Highs

Finolex CablesFinolex Cables arose 0.66% to Rs 99.50 on recording 41% growth in net earnings in Q1 June 2007. The results were declared in the market hours today 20 July 2007.

In the meantime, the BSE 30-share Sensex was up 90.08 points to 15,639.

The scrip hit an intraday high of Rs 102.4 and an intraday low of Rs 97.6 during the day. It touched its 52 week high of Rs 109.98 on 2 January 2007 and a 52 week low of Rs 49.20 on 24 July 2006.

Over the last one month to 19 July 2007, the company’s stock ascended 6.75% as against the Sensex’s return of 7.90%. Its share price arose 9.58% from Rs 90.20 on 5 July 2007 to Rs 98.85 on 19 July 2007.

On BSE, there were 78,404 shares for trading. The scrip showed an average daily volume of 35,975 shares in the last three months.

The company’s current equity is Rs 30.59 crore, with 15.295 crore outstanding shares with a face value of Rs 2 each. The existing market price of Rs 136.25 disregards its FY 2007 earning per share of Rs 4.51, by a PE multiple of 5.60.

The company’s net profit climbed up 41% to Rs 31.81 crore in Q1 June 2007 as compared to the same period of the last year (June 2006). Total profits arose 45.15% to Rs 327.03 crore in Q1 June 2007 over Q1 June 2006.

The company makes a range of cables. It is a groundbreaker in jelly-filled telephone cables. It is the second biggest company in terms of sales in telephone cables manufacturing segment.