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Mid-Day Multimedia net profit increase to Rs 8.63 crore

13-May-2001
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Mid-Day Multimedia net profit increase to Rs 8.63 crore

Mid-Day Multimedia has posted a 68 per cent increase in net profit for the fiscal year ended March 31, 2001, to Rs 8.63 crore as against Rs 5.13 crore for the same period last year’s. Total revenue for the year has shown a growth of 81 per cent to 96.29 crore as against Rs 53.25 crore in the last fiscal year.

The gross profit before depreciation and tax stood at Rs 16.89 crore as against Rs 9.44 crore in the same period last year. The company has provided for interest and finance of Rs 0.98 crore for the fiscal ended March 2001 as against Rs 0.47 crore last fiscal. Depreciation has increased to Rs 2.84 crore as against Rs 1.57 crore last year. The company has increased its provision for taxes to Rs 4.44 crore (Rs 2.27 crore). The company made an IPO during the year and was listed on the BSE and NSE in April 2001.

The reserves and surpluses stood at Rs 49.43 crore as against Rs 31.39 crore last year’s. This is against an equity base of Rs 34.05 crore, which has grown from Rs 31.93 crore last year’s.

At the commencement of the current fiscal year, the company took over all operations of Mid-day Outdoor Ltd. The outdoor business delivered significant revenues during the year under review.

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