ABC Bearings announced a substantial rise in its standalone net profit for the first quarter ended June 2008. During the quarter, the profit of the company rose 33.07% to Rs 41.49 million from Rs 31.18 million in the same quarter, previous year.

Net sales for the quarter rose 25.76% to Rs 452.80 million, while total income for the quarter rose 25.25% to Rs 458.95 million, when compared with the prior year period.



The company`s earnings per share, after extra ordinary items, stood at Rs 3.59 for the quarter ended June 2008 as against Rs 2.70 for the same period last year, registering an increase of 32.96%.

During the quarter, the company announced a fall in operating margin of 353.78 basis points to 18.43% on higher production cost. Interest cost increased 2.59 times to Rs 22.41 million while depreciation cost fell 19.71% to Rs 14.34 million over previous year period.

Shares of the company declined Rs 1.9, or 2.84%, to settle at Rs 65.1. The total volume of shares traded was 815 at the BSE (Wednesday).

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