Ontrack Systems to consider share allotment
Ontrack Systems to consider share allotment A meeting of the board of directors of Ontrack Systems, will be held on Sep. 27, 2007 to consider the allotment of 450,000 share on preferential basis to Ganesh Natarajan and Ramdevan V Krishnaswamy. The allocation of shares will be in the ratio of Ganesh Natarajan 110,540 shares; Ramdevan V Krishnaswamy 339,460 share>s.
Ontrack Systems announced a steep drop of 30.34% in net profit for the quarter ended June 2007. During the quarter, the company experienced fall in profit to Rs 2.25 million from Rs 3.23 million in the same quarter, last year.
Sales for the quarter declined 32.91% to Rs 50.50 million compared with the corresponding quarter, a year ago.
Shares of the company declined Rs 1.4, or 6.28%, to settle at Rs 20.9. Th e total volume of shares traded was 16,383 at the BSE. (Thursday)
