Spice Communications rings on turnaround in Q4 March 2008

Spice Communications surged 2.75% to Rs 35.45 at 10:54 IST on BSE on posting net profit of Rs 399.92 crore in Q4 December 2007 as compared to net loss of Rs 13.89 crore in Q4 December 2006.

The company announced the results before trading hours today, 3 March 2008.

Meanwhile, BSE Sensex was down 432.44 points or 2.46% to 17,146.28, as Asian stocks fell sharply amid growing concerns about the global impact of a US slowdown.

On BSE, 3.52 lakh shares were traded in the counter. The scrip had an average daily volume of 34.13 lakh shares in the past one quarter.

The stock hit a high of Rs 36.85 and a low of Rs 33.20 so far during the day. The stock had a 52-week high of Rs 69.65 on 13 December 2007 and a 52-week low of Rs 23.25 on 22 January 2008.

The mid-cap scrip had underperformed the market over the past one month till 29 February 2008, declining 4.83% compared to the Sensex’s decline of 0.40%. It had also underperformed the market in the past one quarter, declining 28.87% compared to Sensex’s decline of 9.22%.

The company’s current equity is Rs 689.92 crore. Face value per share is Rs 10.

Spice Communications’ total income rose 239.98% to Rs 725.34 crore in Q4 December 2007 over Q4 December 2006.

The company provides mobile telecommunication services in India. The company also provides Internet telephony, Internet services and broadband services, in addition it has commenced offering national and international long distance services.