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Deccan Chronicle Q3 net up 97%

20-January-2005
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Deccan Chronicle Q3 net up 97%

Deccan Chronicle Holdings Ltd, the publishers of Deccan Chronicle, the leading English daily in Andhra Pradesh, today reported its first-ever quarter results after it went public.

The company reported a 97.1 per cent jump in net profit for the third quarter ended December 31, 2004 to Rs 11.25 crore compared with Rs 5.70 crore for the same period last year.

Net sales for the third quarter stood at Rs 45.78 crore, representing a growth of 44.3 per cent from the corresponding previous quarter’s figure of Rs 31.72 crore.

Net sales for the nines month ending December 31, 2004, stood at Rs 118.5 crore, a growth of 39.26 per cent, while the profit after tax for the nine months increased 94 per cent to Rs 26.61 crore.

Staff costs grew by less than half a crore to touch Rs 3.6 crore (Rs 3.20 crore), while cost of raw materials for the quarter was around Rs 20.74 crore compared with Rs 15.06 crore for the same period last year. Deccan Chronicle recently went public with its IPO for 8,013,100 equity shares. The issue was over subscribed 9.3 times.

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