Zicom Electronic Security Systems Limited, one of the leading Electronic Security Company in the country announced its unaudited financial results for the third quarter ended December 31, 2007 of current fiscal year 2007-08. The company posted turnover of Rs. 42.07 crores which is up by 4% and net profit of Rs. 3.73 crores up by 67% for the third quarter.

Performance highlights for the nine months ended 31st December 2007

* Net sales up by 5.76% to Rs. 115 crore as compared to Rs. 109 crore in the corresponding period of nine months of the previous year.
* PAT for the nine months has increased by 8.39 % to Rs. 7.62 crore as against Rs. 7.02 crore in the corresponding period of nine months of the previous year

Highlights

v The Hon’ble High Court, Bombay has approved the Scheme of Arrangement of transferring Consumer Service (Retail) Group Business [“CSG (Retail) Business”] of the Company to its wholly owned subsidiary vide its order dated November 23, 2007 and the appointed date of the said scheme is from April 1, 2007. The name of the said subsidiary has been changed from Zicom Global Security Private Limited to Zicom Retail Products Private Limited w.e.f. January 18, 2008.

Latest Achievements

· Bagged order from Western Railway for setting up CCTVs at railway stations between Churchgate & Virar

· Bagged order of Rs 50 crore in Unisafe Fire Protection Specialists LLC, a subsidiary company.

Commenting on the results, Mr. Manohar Bidaye, Chairman – Zicom Electronic Security Systems Limited said, “Although results of the current quarter are not comparable with the corresponding quarter of the previous year in view of hiving off of retail business, the profits in this quarter have registered an impressive growth and the Company is doing well in its flagship business of providing electronic security and building solutions to customers. This quarter we have received contracts from Western Railway and moving forward, we are looking for more such contracts. We are pleased to inform that it has been an eventful quarter.”

Sourced From: Hanmer & Partners Communications Pvt. Ltd

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