Asian Elec net up at Rs 6 crore

BS 200 SCORECARD

Asian Electronics has reported net profit of Rs 6.38 crore in the third quarter ended December 2005 compared with Rs 90 lakh in the same quarter last financial year.

Net sales went up by 67.41 per cent to Rs 44.45 crore from Rs 26.58 crore. The company's stock closed at Rs 414.9 on the Bombay Stock Exchange on Wednesday, up by 5 per cent compared with the previous closing price of Rs 395.15.

The company's EPS remained at Rs 7.5 for the quarter compared to Rs 1.03 a year ago. Asian Electronics had recently signed a memorandum of understanding to acquire a 50 per cent stake in US-based Westinghouse Lighting.

The company also is looking to form a joint venture with a German company in the retail fixtures business.