Pioneer Distilleries increase its authorised share capital
Pioneer Distilleries increase its authorised share capital The board of directors of Pioneer Distilleries, at its meeting held on Sep. 26, 2007, increased the authorised share capital from Rs 150 million to Rs 200 million. The company reported a phenomenal jump in net profit for the quarter ended June 2007. During the quarter, profit of the company rose 2.94 times to Rs 21.58 million from Rs 7.33 million in the same quarter last year. Net sales for the quarter rose 53.12% to Rs 148.43 million compared with the corresponding quarter, a year ago. Shares of the company closed down Re. 1.00, or 2.11%, at Rs 46.40. The total volume of shares traded at the BSE was 18,778. (Wednesday)
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The members also proposed to issue 700,000 warrants convertible into equity shares of Rs 10 each at a price of Rs 53.00.
