IG Petrochemicals board to allot shares
IG Petrochemicals board to allot shares >The board of directors of IG Petrochemicals, at its meeting held on Sep. 26, 2007, approved the allotment of 4.5 million equity shares on conversion of debentures at Rs 29.68 a share. With this allotment, the paid-up share capital of the company increased from Rs 262,948,500 to Rs 307,948,500.
IG Petrochemicals reported a phenomenal jump in net profit for the quarter ended in June 2007. During the quarter, the company experienced a 86.42% rise in profit to Rs 100.50 million from Rs 53.91 million in the same quarter last year.
Sales for the quarter rose 21.74% to Rs 1,520.43 million compared with the corresponding quarter, a year ago.
Shares of the company declined Rs 0.8, or 1.05%, to settle at Rs 75.05. The total volume of shares traded was 64,421 at the BSE.(Wednesday)
