Jan 25, 2001|
Higher copper prices propel Indo Gulf's net
Indo Gulf has declared a 29.5% growth in the net profits for the third quarter of the current year (vis–a–vis the corresponding quarter of the previous year) on the back of a 22.9% growth in turnover. While the upward assessment of the urea capacity and consequent reduction in the urea price has affected the profits from this division, higher copper prices have led the net profit growth for Indo Gulf. Infact, the sales of the copper division have soared 67% in the current quarter over the corresponding quarter of the previous year while the capacity utlisation has gone by 15% over the same period.
|Operating Profit (EBDIT)
|Operating Profit Margin (%)
|Profit before Tax
|Profit after Tax/(Loss)
|Net profit margin (%)
|Earnings per share*
International copper prices have jumped from $ 1,350 per tonne to a level of $ 1,750 per tonne currently after having touched a high of over $ 2000 per tonne in October 2000. The company also raised the prices of its copper grades in line with the international prices and this has helped it post a 29% bottomline growth.
The stock quotes at a price of Rs 46.90 which implies an earnings multiple of 3.8X 3QFY01 annualised earnings.
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