The Hindu Business Line : Pennar net up 5% at Rs 9.52 cr

Hyderabad, Jan. 31 Pennar Industries Ltd’s net profit for the quarter ended December 31, 2008 was up 5.77 per cent to Rs 9.52 crore compared with Rs 9 crore achieved in the corresponding previous quarter.

The net sales for the quarter increased 5.48 per cent to Rs 150.9 crore (Rs 143.06 crore). The earnings per share during the quarter stood at Rs 3.01 (Rs 3.86).

According to the company’s balance sheet filed with the Bombay Stock Exchange, the paid-up equity share capital increased to Rs 63.23 crore as on December 31, 2008 against Rs 54.07 crore in the corresponding quarter in the previous year due to conversion of debentures to equity by foreign investors in January 2008.

A release from the company said the increased profit margins were obtained by diversifying the product range — adding value added products such as engineering components, road safety system and rail wagon and coach profiles.

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