FAG Bearings India Net Surges 81.64% for Jun`10 qtr

(From:CMB-CETA Editor)

F A G Bearings India reported a phenomenal rise in standalone net profit for the quarter ended June 2010. During the quarter, the profit of the company rose 81.64% to Rs 338.40 million from Rs 186.30 million in the same quarter previous year.

Net sales for the quarter for the quarter rose 39.15% to Rs 2,711.90 million, while total income for the quarter rose 39.46% to Rs 2,750.50 million, when compared with the prior year period.

It posted earnings of Rs 20.36 a share during the quarter, registering 81.62% growth over previous year period.

Shares of the company gained Rs 79.85, or 11.74%, to settle at Rs 760.05. The total volume of shares traded was 38,613 at the BSE (Friday).